July 14, 2017 – MacDonald, Dettwiler and Associates Ltd. (MDA) and DigitalGlobe, Inc. have provided several updates related to the status of the pending acquisition of DigitalGlobe by a wholly owned subsidiary of MDA.
MDA and DigitalGlobe have withdrawn and re-filed their joint voluntary notice to the Committee on Foreign Investment in the United States (“CFIUS”) to provide additional time for CFIUS to complete its consideration of the proposed merger. Upon acceptance of the re-filing, CFIUS will initiate a new 30-day review period. Additional information about the CFIUS review process can be found in the amended registration statement on Form F-4 filed by MDA with the U.S. Securities and Exchange Commission (“SEC”) on June 2, 2017, which contains a proxy statement of DigitalGlobe and a prospectus of MDA, and MDA’s management information circular dated June 21, 2017, which is available on MDA’s SEDAR profile. MDA and DigitalGlobe believe that CFIUS will conclude its consideration of the transaction with no unresolved issues of national security.
MDA and DigitalGlobe are working diligently to satisfy all of the remaining closing conditions under the merger agreement. Meetings of shareholders to approve the transaction are scheduled for July 27, 2017. The companies now expect to close the merger during the current calendar quarter or shortly thereafter, subject to the aforementioned regulatory approval and customary closing conditions.
The combined company is committed to serving the U.S. Government, International Governments and its commercial customers as a mission-critical partner with an expanded portfolio of end-to-end space technology solutions expertise. As previously announced, DigitalGlobe will operate as a stand-alone division under SSL MDA Holdings, Inc., the MDA U.S. operating company subsidiary, and will remain headquartered in Westminster, Colorado. The combined company will continue to execute its U.S. Access Plan strategy, which includes incorporating the ultimate parent of DigitalGlobe in the U.S. by the end of 2019, subject to customary approvals.