In a developing story, Reuters is reporting that Maxar Technologies, the parent company of MDA, is considering the sale of the MDA business unit to address its debt load.
Reuters said the sale “could fetch more than US$1 billion.”
A Maxar representative told Reuters “as a matter of company policy, Maxar does not comment on market rumors or speculation. As we have previously stated, the company is focused on strengthening our operational and financial performance, developing a strategy to drive long-term revenue, profit, and cash flow growth, and is assessing a variety of options to reduce leverage to achieve a more optimal capital structure for the company.”
The news comes just two days after SpaceX had successfully launched the $1.2 billion RADARSAT Constellation Mission for which MDA was the prime contractor.
SpaceQ has reached out to MDA for a comment but has not heard back from the company.
Update: 6:13 p.m. EDT: A representative form Maxar provided us with same comment as was provided to Reuters however added the following; “Maxar will continue to communicate transparently with investors and analysts through presentations and public filings, and the Board remains committed to acting in the best interests of all Maxar shareholders.”