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Maxar, Advent Expect Proposed Merger to Close in Late April or Early May

Maxar Technologies (NYSE: MAXR) has secured the majority of regulatory clearances needed to advance its merger with Boston-based private equity firm Advent International and both parties now expect the transaction to be completed in late April or early May.

In December, Advent agreed to buy Maxar in an all-cash transaction worth approximately $6.4 billion, or $53 in cash per share. The deal would take Maxar private and help the company accelerate its next-generation satellite development program.

Stockholders at Maxar will hold a virtual meeting on Wednesday, April 19, to decide on the merger agreement, which is still subject to other regulatory approvals.

Proxy advisory firms Glass, Lewis & Co. and Institutional Shareholder Services have recommended that stockholders approve the proposed transaction.

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