Advent International and minority investor British Columbia Investment Management Corporation, have completed the acquisition of Maxar, a provider of comprehensive space solutions and secure, precise, geospatial intelligence, in a deal that values Maxar at $6.4 billion.
Advent International (Advent) and minority investor British Columbia Investment Management Corporation (BCI), have completed the acquisition of Maxar, a provider of comprehensive space solutions and secure, precise, geospatial intelligence, in a deal that values Maxar at $6.4 billion.
With the closing of the transaction, Maxar will remain a US-controlled, owned and operated company.
On 16 December, 2022, Advent and Maxar 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.
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.
JP 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.
