Maxar Technologies (NYSE: MAXR) will be snapped up by private equity firm Advent International for $6.4 billion in an all-cash transaction.
Shares of MAXR soared by more than 115% in pre-market trading on Friday, following the news.
Advent will pay $53 per share for Maxar. This purchase price “represents a premium of approximately 129% over Maxar’s closing stock price of $23.10 on December 15, 2022.”
The acquisition is likely to close by the middle of next year.
Maxar is a space technology company that owns and operates satellites to collect images from space.
Analysts are cautiously optimistic about MAXR with a Moderate Buy consensus rating based on four Buys, one Hold and one Sell.