WESTMINSTER, Colo., BOSTON & NEW YORK, May 3, 2023 — Maxar Technologies (“Maxar” or the “Company”), provider of comprehensive space solutions and secure, precise, geospatial intelligence, today announced that U.S. private equity firm Advent International (“Advent”), alongside minority investor British Columbia Investment Management Corporation (“BCI”), completed their acquisition of Maxar. With the closing of the transaction, Maxar will remain a U.S.-controlled, owned and operated company.
On December 16, 2022, Advent and Maxar announced that they had entered into a definitive merger agreement under which all outstanding shares of Maxar common stock would be acquired for $53.00 per share in cash, valuing Maxar at approximately $6.4 billion.
With the completion of the transaction, Maxar’s common stock has ceased trading and is no longer listed on the New York Stock Exchange, and Maxar’s common stock will also be de-listed from the Toronto Stock Exchange. An application will be made for Maxar to cease to be a reporting issuer in the applicable Canadian jurisdictions as a result of completion of the transaction.
Advisors
/s17401.pcdn.co/> J.P. Morgan Securities LLC served as financial advisor to Maxar and Wachtell, Lipton, Rosen & Katz served as lead counsel to Maxar. Milbank LLP served as Maxar’s legal advisor with respect to certain space industry and regulatory matters.
Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC served as financial advisors to Advent and Weil, Gotshal & Manges LLP served as lead counsel to Advent. Covington & Burling LLP served as Advent’s legal advisor with respect to certain regulatory matters.
Skadden, Arps, Slate, Meagher & Flom LLP served as lead counsel to BCI. Freshfields Bruckhaus Deringer LLP served as BCI’s legal advisor with respect to certain regulatory matters.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Statements concerning general economic conditions, our financial condition, including our anticipated revenues, earnings, cash flows or other aspects of our operations or operating results, and our expectations or beliefs concerning future events; and any statements using words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook” or similar expressions, including the negative thereof, are forward-looking statements that involve certain factors, risks and uncertainties that could cause Maxar’s actual results to differ materially from those anticipated.
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On December 16, 2022, Advent and Maxar announced that they had entered into a definitive merger agreement under which all outstanding shares of Maxar common stock would be acquired for $53.00 per share in cash, valuing Maxar at approximately $6.4 billion.
With the completion of the transaction, Maxar’s common stock has ceased trading and is no longer listed on the New York Stock Exchange, and Maxar’s common stock will also be de-listed from the Toronto Stock Exchange. An application will be made for Maxar to cease to be a reporting issuer in the applicable Canadian jurisdictions as a result of completion of the transaction.
Advisors
/s17401.pcdn.co/> J.P. Morgan Securities LLC served as financial advisor to Maxar and Wachtell, Lipton, Rosen & Katz served as lead counsel to Maxar. Milbank LLP served as Maxar’s legal advisor with respect to certain space industry and regulatory matters.
Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC served as financial advisors to Advent and Weil, Gotshal & Manges LLP served as lead counsel to Advent. Covington & Burling LLP served as Advent’s legal advisor with respect to certain regulatory matters.
Skadden, Arps, Slate, Meagher & Flom LLP served as lead counsel to BCI. Freshfields Bruckhaus Deringer LLP served as BCI’s legal advisor with respect to certain regulatory matters.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Statements concerning general economic conditions, our financial condition, including our anticipated revenues, earnings, cash flows or other aspects of our operations or operating results, and our expectations or beliefs concerning future events; and any statements using words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook” or similar expressions, including the negative thereof, are forward-looking statements that involve certain factors, risks and uncertainties that could cause Maxar’s actual results to differ materially from those anticipated.
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