MDA Clears Hurdle in its Bid to Acquire Space Systems/Loral

MacDonald, Dettwiler and Associates Ltd. (MDA) has cleared one hurdle in its effort to acquire U.S. based Space Systems/Loral Inc. (SS/L). Both MDA and SS/L were notified yesterday that the Committee on Foreign Investment in the United States has cleared the deal.


While this is a good news for the two companies who are trying to finalize the US$875 million deal, the most important hurdle still remains. MDA and SS/L must have approval from U.S. anti-trust regulators.
It was just last week that the U.S. Department of Justice (DOJ) requested further information on the deal, in particular MDA’s satellite antenna business based out of Montreal. This was the second request from the DOJ and is part of the ongoing review before the deal can clear the necessary regulatory hurdles.
The acquisition has been slowed down with a closing date being pushed back should the deal be approved.

MDA

About Marc Boucher

Marc Boucher
Boucher is an entrepreneur, writer, editor & publisher. He is the founder of SpaceQ Media Inc. and CEO and co-founder of SpaceRef Interactice Inc. Boucher has 18 years working in various roles in the space industry and a total of 25 years as a technology entrepreneur including creating Maple Square, Canada's first internet directory and search engine.

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