Why Maxar Technologies Stock Is Blasting Off Today
Space imaging company Maxar Technologies (NYSE: MAXR) has agreed to be acquired in a deal valued at $6.4 billion. The offer price is a massive premium over Maxar's Thursday close, and the shares are up 120% on Friday as a result.
Maxar provides high-resolution imagery to a range of government and commercial customers, including the Department of Defense. The quality of its images has been in the spotlight this year due to the war in Ukraine, and the images are also used by Alphabet to power its Google Earth product.
On Friday, Maxar announced it had agreed to be acquired by private equity firm Advent International. Terms of the deal call for Advent to pay $53 per share in cash for Maxar, a substantial boost over Maxar's $23.10 closing price on Thursday.
Source Fool.com
