BRAMPTON — MDA Space Ltd. is increasing its takeover offer for SatixFy Communications Ltd. after the Israeli company received a rival bid.
Under the new offer, MDA will pay US$3 per share in cash in an offer that implies a total equity value of US$280 million for SatixFy.
The proposal is up from MDA's offer in April of $2.10 per share which implied a total equity value of about US$193 million.
SatixFy is a maker of chips for satellite communication systems.
MDA says the SatixFy board has recommended shareholders support the deal and that shareholders holding about 57 per cent of SatixFy's shares have agreed to vote in favour of the transaction.
In connection with the board determination, MDA says a shareholder meeting to vote on the deal set for Tuesday has been postponed to Friday.
This report by The Canadian Press was first published May 20, 2025.
Companies in this story: (TSX:MDA)
The Canadian Press
