US EditionMDA Space Raises SatixFy Offer by 43% to Counter Competing Bid
- Canada's MDA Space Ltd. Increased its offer to acquire Israeli satellite chipmaker SatixFy Communications Ltd. To $3 per share on May 20, 2025.
- MDA's revised offer followed a rival bid during a 45-day go-shop period, with the competing party valuing SatixFy shares at $2.53 each.
- MDA plans to pay off SatixFy's $76 million debt and scale up satellite constellation manufacturing, with support from shareholders holding 57% of shares.
- The updated proposal values SatixFy at approximately $280 million, up from MDA’s initial April offer of $2.10 per share and $193 million total equity value.
- The meeting where shareholders were to approve the deal was delayed from May 20 to May 23 to provide additional time for review, with the board advising shareholders to endorse the transaction.
13 Articles
13 Articles
MDA Space raises SatixFy offer by 43% to counter competing bid
Canada’s MDA Space has increased its offer for SatixFy by 43% following a competing bid for the Israeli satellite chipmaker, bringing the total value of the deal to around US$280 million. The post MDA Space raises SatixFy offer by 43% to counter competing bid appeared first on SpaceNews.
Amended Merger Agreement Announced by MDA Space, SatixFy
MDA Space and SatixFy have agreed to amend the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated April 1, 2025 among SatixFy Communications Ltd. ("SatixFy"), MDA Space Ltd. ("MDA") and certain subsidiaries. In the initial agreement, MDA agreed to acquire SatixFy in an all-cash transaction for $2.10 (without interest) per ordinary share, which implied an aggregate equity value for the Company of approximately $193 million.…
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