Deals
MacDonald Dettwiler Shifts Focus to Consumers: Corporate Canada
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MacDonald, Dettwiler & Associates Ltd. will gain a beachhead in the U.S. with the $875 million purchase of Loral Space & Communications Inc.’s commercial satellite unit as the company that made NASA’s space arm cuts reliance on government spending.
About two-thirds of a projected C$1.9 billion ($1.9 billion) in revenue will come from commercial communications after the transaction, compared with one-third now, Chief Financial Officer Anil Wirasekara told analysts on a conference call yesterday. The Richmond, British Columbia-based company’s sales will double and the U.S. will replace Canada as its biggest market.