Why Maxar Technologies (MAXR) Shares Are Skyrocketing Today

Maxar Technologies Inc MAXR has entered into a definitive merger agreement to be acquired by Advent International, a global private equity investor. The all-cash deal values Maxar at an enterprise value of approximately $6.4 billion.
The $53.00 per share cash purchase price represents a premium of approximately 129% over Maxar's closing stock price of $23.10 on Dec. 15, 2022.
After the transaction, Maxar will remain a U.S.-controlled and operated company.
"In our view, Maxar is a uniquely positioned and attractive asset in satellite manufacturing and space-based high-resolution imagery, with an incredible workforce and many opportunities ahead," said Shonnel Malani, Managing Director and global head of Advent's aerospace and defense team.
The agreement includes a 60-day "go-shop" period expiring at 11:59 pm EST on Feb. 14, 2023.
The transaction is expected to close mid-2023. Upon completion of the transaction, Maxar's common stock will no longer be publicly listed.
Price Action: MAXR shares are trading higher by 120.6% at $50.96 in premarket on the last check Friday.
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Maxar Technologies Agrees To Be Acquired By Advent At 129% Premium