Maxar Rallies On Report Of Possible Sale Of Space Robotics Business
Maxar Technologies Inc (NYSE: MAXR) is exploring a sale of its space robotics business that could fetch more than $1 billion and allow it to pay some of its debt, according to Reuters.
The sale of the business — MacDonald, Dettwiler and Associates — would address concerns about Maxar's $3.2-billion in debt.
Maxar specializes in satellites for Earth imagery, geospatial data and analytics, Reuters said. It has a market capitalization of about $500 million.
Maxar shares were up 7.79% at $6.64 at the time of publication late in Friday's session.
Related Links:
'Mars Acquired The Moon In A Stock Swap': The Best Responses To Trump's Planetary Mix-Up
Posted-In: ReutersNews Media Best of Benzinga
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
