Maxar Technologies (NYSE: MAXR) has made headway in its U.S. domestication effort after it received approval from the Supreme Court of British Columbia in Canada for certain changes the company made to its arrangement plan.
The company said Friday the arrangement plan allows it to directly purchase common shares from shareholders and seeks to benefit Maxar from a tax standpoint.
The court previously approved Maxar’s proposed U.S. incorporation in compliance with British Columbia’s Business Corporations Act.
Maxar expects to complete the process by Jan. 1, subject to customary closing conditions.
Shareholders at Maxar cleared the company’s plan for U.S. domestication in November during a special meeting held in Westminster, Colo.