Maxar Technologies stock more than doubles on buyout offer from Advent International
Maxar Technologies Inc. shares jumped 116% in premarket trades Friday after the geospatial intelligence and aerospace company agreed to be acquired by Advent International in a deal that values the company at $6.4 billion. Advent agreed to pay $53 a share, a premium of 129% over Maxar's closing stock price on Thursday. Maxar will become a private company after the deal closes as expected in the middle of 2023. Funds advised by Advent have committed 3.1 billion in equity, while British Columbia Investment Management Corp. is providing $1 billion. The merger pact includes a 60-day "go-shop" period expiring on Feb. 14.
(END) Dow Jones Newswires
December 16, 2022 07:28 ET (12:28 GMT)
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