Advent-Maxar Merger to Proceed Following Completion of ‘Go-Shop’ Period

Private equity investment firm Advent International and Maxar Technologies (NYSE: MAXR) are expected to continue their planned merger after the Westminster, Colorado-based geospatial intelligence services provider did not receive a competing alternative offer during the go-shop period that expired Tuesday.

In December, Advent agreed to acquire Maxar for $53 per share, or about $6.4 billion in an all-cash transaction that would take the government services contractor private.

Both parties said Wednesday they expect the transaction to close in mid-2023, pending approval by Maxar shareholders, regulatory clearances and other customary closing conditions.

Maxar and its financial adviser J.P. Morgan Securities were able to solicit alternative acquisition proposals from 36 third-parties during the 60-day go-shop process.

Maxar will stop trading its common stock on public markets upon completion of the transaction, which secured antitrust approval in January.

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about M&A Activity

Related Articles

Become a Registered Reader
Register to enjoy unlimited access to articles, interviews, and invaluable govcon content. You'll also receive our daily briefing straight to your inbox.

This will close in 0 seconds