Maxar shares soar premarket on report of takeover by Advent
By Colin Kellaher
Shares of Maxar Technologies Inc. took flight in premarket trading Friday after The Wall Street Journal reported that private-equity firm Advent International has agreed to buy the satellite owner and operator at a more than 100% premium.
Advent will pay $53 a share for Maxar, executives at the private-equity firm told the Journal, more than double Thursday's closing price of $23.10 for the Westminster, Colo., company.
The deal is worth about $4 billion, or roughly $6.4 billion including debt, and is slated to be announced later Friday.
Maxar shares (MAXR) were recently up to $50.16 in premarket trading.
Write to Colin Kellaher at email@example.com
(END) Dow Jones Newswires
December 16, 2022 07:09 ET (12:09 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.