Maxar Technologies IncMAXR has entered into a definitive merger agreement to be acquired by Advent International, a global private equity investor. The all-cash deal values Maxar at an enterprise value of approximately $6.4 billion.
The $53.00 per share cash purchase price represents a premium of approximately 129% over Maxar’s closing stock price of $23.10 on Dec. 15, 2022.
After the transaction, Maxar will remain a U.S.-controlled and operated company.
“In our view, Maxar is a uniquely positioned and attractive asset in satellite manufacturing and space-based high-resolution imagery, with an incredible workforce and many opportunities ahead,” said Shonnel Malani, Managing Director and global head of Advent’s aerospace and defense team.
The agreement includes a 60-day “go-shop” period expiring at 11:59 pm EST on Feb. 14, 2023.
The transaction is expected to close mid-2023. Upon completion of the transaction, Maxar’s common stock will no longer be publicly listed.
Price Action: MAXR shares are trading higher by 120.6% at $50.96 in premarket on the last check Friday.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
