10:39 AM EDT, 05/20/2025 (MT Newswires) -- MDA Space ( MDALF ) on Tuesday said it has upped its offer to acquire SatixFy, a developer of satellite communication systems based on in-house-developed chipsets, to US$3 cash per share, up from the previous US$2.10 per share.

The increased offer values SatixFy at US$280 million, from US$193 million.

The amendment follows a go-shop process by SatixFy whereby 75 third parties were contacted to determine whether they had an interest in making an acquisition proposal.

In response to subsequent discussions between SatixFy with MDA (who had disputed the validity of SatixFy's acquisition proposal), MDA agreed to raise its offer to US$3 per share, provided that SatixFy not consider any other acquisition proposal.

The SatixFy shareholder meeting has been rescheduled to May 23, from May 20.

MDA was last seen up $0.48, to $26.49, on the Toronto Stock Exchange.

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