MDA-DigitalGlobe Merger expected to close first week of October
WASHINGTON — MDA Corp. and DigitalGlobe expect to complete their $2.4 billion merger late next week, the companies said Sept. 28.
In a press release, MDA and DigitalGlobe said the Committee on Foreign Investment in the United States (CFIUS) found no unresolved national security issues that should preclude Canada-based MDA from buying U.S.-based Digital Globe.
CFIUS, an interagency committee chaired by the U.S. Treasury Department, assesses whether transactions that could give control of an American business to a foreign entity would harm U.S. National Security.
MDA Corp., a Richmond, British Columbia-based aersospace contractor that already owns Palo Alto, California-based satellite manufacturer Space Systems Loral, is transitioning to become a U.S. company by 2019.
DigitalGlobe supplies Earth imagery to the U.S. National Geospatial-Intelligence Agency under a cornerstone contract it has held for years.
The company also announced Sept. 28 that it has received authorization from the New York Stock Exchange to list the MDA common shares, includes those issuable to DigitalGlobe shareholders as part of the merger announced in February.