Maxar Rallies On Report Of Possible Sale Of Space Robotics Business

Maxar Technologies Inc MAXR is exploring a sale of its space robotics business that could fetch more than $1 billion and allow it to pay some of its debt, according to Reuters.

The sale of the business — MacDonald, Dettwiler and Associates — would address concerns about Maxar's $3.2-billion in debt. 

Maxar specializes in satellites for Earth imagery, geospatial data and analytics, Reuters said. It has a market capitalization of about $500 million.

Maxar shares were up 7.79% at $6.64 at the time of publication late in Friday's session. 

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