Maxar Technologies provides update on proposed acquisition by Advent

Maxar Technologies announced that it has received the majority of the regulatory consents required for the company’s previously announced transaction to be acquired by Advent International, one of the largest and most experienced global private equity investors. Advent has agreed, pursuant to a definitive merger agreement, dated December 15, 2022, to acquire all outstanding shares of Maxar common stock for $53.00 per share in cash. The transaction also remains subject to the satisfaction of other customary closing conditions, including approval by Maxar stockholders and the receipt of approvals from certain other authorities. Both Institutional Shareholder Services Inc. and Glass, Lewis & Co., LLC, leading proxy advisory firms, have recommended that stockholders vote for the proposal to approve the proposed acquisition. A special meeting of Maxar’s stockholders to approve the Merger Agreement will be held virtually at www.virtualshareholdermeeting.com/MAXR2023SM at 11 a.m. Mountain Time on April 19. Maxar and Advent currently anticipate that the proposed transaction will close in late April or early May, subject to satisfaction or waiver of all other closing conditions, including receipt of outstanding regulatory approvals.