MAXR - Maxar says Advent's buyout on track to close within weeks; stock rises
2023-04-14 16:24:27 ET
- Maxar Technologies ( NYSE: MAXR ) says in a business update that its near-$4B acquisition by Advent International is on track to wrap up by early May.
- Maxar stock ( MAXR ) rose 2.3% after hours Friday.
- The company says it's received the majority of regulatory consents needed for the deal, which sees the private-equity investor taking over all outstanding common shares for $53 each in cash. (Maxar stock was up to $52.42 in postmarket Friday trading.)
- The deal still needs approval by Maxar stockholders, among a few others. Maxar's special meeting to consider the deal is set for 1 p.m. ET on April 19.
- Leading proxy advisers ISS and Glass Lewis have recommended votes in favor of the acquisition.
- "Maxar and Advent currently anticipate that the proposed transaction will close in late April or early May of 2023," subject to the remaining approvals, the company said.
For further details see:
Maxar says Advent's buyout on track to close within weeks; stock rises