Satellite Owner Maxar Gets Buyout Offer
Advent International agreed to buy Maxar Technologies Inc. in a deal that values the satellite owner and operator at about $4 billion. Advent is paying $53 a share for Maxar, the companies said, confirming an earlier Wall Street Journal report. Shares of Maxar, which had fallen 23.5% since the beginning of the year, closed at $23.10 on Thursday. They soared 125% Friday on the news to close at $51.93. Including debt, the transaction is worth $6.4 billion, making it one of the bigger buyouts to be announced during the past few months, when market turmoil and a challenging financing environment have made it harder to do deals.