Richmond, BC - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, today announced that MDA has received notice from the Bureau of Competition Premerger Notification Office of the Federal Trade Commission that it has completed its review of the transaction for MDA to acquire Space Systems/Loral, Inc. (SS/L) and that early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has been granted with respect to the transaction.
About the Transaction
On June 26, 2012, Loral Space & Communications Inc., the parent company of SS/L, and MDA executed a definitive agreement for the purchase of SS/L. The agreement is subject to applicable regulatory approvals and certain closing conditions customary for this type of transaction. Headquartered in Palo Alto, California, SS/L is the global market leading provider of commercial communications satellites, serving a global customer base.
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
Caution Regarding Forward Looking Information and Other Matters
This press release contains certain forward-looking statements and information which reflect the current view of MacDonald, Dettwiler and Associates Ltd. (the “Company” or “MDA”) with respect to future events. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, “will”, “would”, “could”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe” or “continue”, or the negatives of such terms or variations of them or similar terminology. The forward-looking statements in this press release are based on MDA’s current expectations, estimates, projections and assumptions made in light of its experience and perception of historical trends. Forward-looking statements are subject to risks and uncertainties, many of which are beyond MDA’s control and the effects of which can be difficult to predict. MDA’s actual results of operations could differ materially from historical results or current expectations.
With regard to MDA’s proposed acquisition of SS/L, there can be no assurance that MDA will realize the anticipated benefits or results due to a variety of factors, including: inability to complete the acquisition in the timeframe anticipated or at all; inability to satisfy all conditions to the transaction on the proposed terms and timeframe; the ability to promptly and effectively integrate the businesses of MDA and SS/L; higher than anticipated integration costs; diversion of management time on acquisition-related issues; and failure to obtain the consent or other agreement of certain counterparties whose consent or agreement is required in order for MDA to acquire certain business relationships. The anticipated benefits from the proposed transaction may not be realized in the time frame anticipated or at all as a result of several factors including changes in general economic and market conditions, laws and regulations and their enforcement, and the degree of competition in the business areas in which SS/L operates.
We caution that the preceding list of material risk factors is not exhaustive and other factors could also adversely affect MDA’s results. You are referred to the risk factors described in MDA’s most recent annual Management’s Discussion and Analysis, Annual Information Form and other documents on file with the Canadian securities regulatory authorities, available on SEDAR, www.sedar.com or www.mdacorporation.com.All such factors should be considered carefully, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements, when making decisions with respect to MDA. The forward-looking statements and information contained in this material change report represent MDA’s views only as of today’s date. All such statements are made pursuant to the “safe harbour” provisions of applicable Canadian and U.S. securities laws. MDA disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law, rule or regulation. You should not place undue reliance on forward-looking statements.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.