Home / M&A Activity / DigitalGlobe, MDA Shareholders OK $3.6B Merger Deal

DigitalGlobe, MDA Shareholders OK $3.6B Merger Deal

Shareholders at DigitalGlobe (NYSE: DGI) and Canada-based MacDonald, Dettwiler and Associates have separately approved the deal originally announced in February for MDA to buy the Westminster, Colorado-based Earth imaging services provider in an estimated $3.6 billion transaction.

Holders of approximately 93 percent of shares in DigitalGlobe voted to approve the merger and that 81 percent of the company’s outstanding shares were put up to a vote during the Thursday meeting, DigitalGlobe said Thursday.

MDA stockholders also voted in favor of a proposal to issue common stock to DigitalGlobe shareholders in relation to the pending transaction during its Thursday meeting in Vancouver, British Columbia, MDA said Thursday.

More than 30 million or 83 percent of MDA’s outstanding and issued common shares were voted at the meeting.

MDA stockholders also voted in favor of the election of three DigitalGlobe nominees as directors: Howell Estes, L. Roger Mason and Nick Cyprus

MDA also listed the results of the election of all director nominees that include Robert Phillips, Howard Lance, Brian Kenning, Dennis Chookaszian, Eric Zahler, Lori Garver, Joanne Isham and C. Robert Kehler.

“We are pleased our shareholders support the strategic addition of DigitalGlobe to our portfolio for the future of our combined space systems, imaging and analytics company,” said Lance, MDA president and CEO.

“The transaction is expected to close in or shortly after the third quarter of 2017, subject to approval from the Committee on Foreign Investment in the United States and other customary approvals,” he added.

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