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.
