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Maxar Surges on $770 Million Deal to Sell MDA to Investment Firm

(Bloomberg) — Maxar Technologies Inc. rallied after it agreed to sell its Canadian space and defense unit MDA to a consortium led by Northern Private Capital for C$1 billion ($770 million) to help pay down debt and prioritize investments in core businesses.The sale includes all of MDA’s Canadian businesses, including ground stations, radio satellite products, robotics, defense and satellite components, and represents 1,900 employees, the Westminster, Colorado-based company said Monday in a statement. Shares of Maxar jumped as much as 23% Monday, to the highest since November 2018.MDA will operate as a standalone company within the portfolio of Toronto-based Northern …read more […]

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Tesla Falls as Cowen Sees Deliveries Hurt by ‘Demand Saturation’

(Bloomberg) — Tesla Inc. tumbled 4.9%, its biggest drop in a month, after analysts at Cowen said vehicle deliveries may miss the company’s target this year as Model 3 demand slumps.“Excluding the Netherlands and China, we expect Model 3 deliveries to be down 9% quarter over quarter and 7% year over year in the fourth quarter, which highlights the demand saturation we are seeing across most mature markets as we shift from pent-up demand to steady flow demand,” analyst Jeffrey Osborne wrote in a note dated Dec. 29. Tesla may deliver some 356,000 vehicles for this year, slightly below the …read more […]