January 13, 2023 | Technology | North America | Ended
Satellite owner and operator Maxar Technologies has agreed to be taken private by Advent International for $4.0bn, or $6.4bn including debt. Under the terms of the agreement, announced on 16-Dec-22, Advent is offering $53 per share, a 129% premium to the previous day’s undisturbed price. A 60-day ‘go-shop’ is set to expire on 14-Feb-23. Maxar’s board supports the deal, and conditions include an approval from shareholders (50%) and regulatory clearances in the US, including under HSR and from CFIUS as well as from the Defense Counterintelligence and Security Agency (DCSA) and the US Department of State’s Directorate of Defense Trade Controls (DDTC). The deal is neither subject to financing nor conditional on any operational updates relating to the launch, deployment, or performance of Maxar’s WorldView Legion satellite programme. The termination fee is $51.9m until the end of the ‘go-shop’ period and will increase to ...
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