Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, December 23, 2022

Article Excerpt

MAXAR TECHNOLOGIES INC., $51.78, symbol MAXR on New York, changed its name from MacDonald Dettwiler and Associates in October 2017. The company remains a global provider of communications systems, high-resolution earth-imagery products and services, and information systems for the surveillance/intelligence and communications markets. Its customers include global satellite operators, government entities, and other corporate clients. Maxar has become well known in 2022 because of the imagery its 90 satellites in orbit have provided of the Ukraine war. On December 16, 2022, Maxar announced that it had agreed to be acquired by Boston-based private equity firm Advent International for $6.4 billion, or $53 a share. As a private company, Advent believes that Maxar can accelerate its investments in next-generation satellite technologies and data analytics that its government and commercial customers require. Advent will invest $3.1 billion in equity to finance the deal. In addition, the British Columbia Investment Management Corporation is investing $1.0 billion. Advent will finance the rest with debt. In the three months ended September…