BRITISH COLUMBIA

MDA clears antitrust review for Space Systems/Loral Inc. takeover deal

10/26/2012 05:18 EDT | Updated 12/26/2012 05:12 EST
RICHMOND, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) said Friday that it has cleared a U.S. antitrust review of its US$875-million takeover bid for California-based Space Systems/Loral Inc.

The company said the Bureau of Competition Premerger Notification Office of the U.S. Federal Trade Commission has completed its review and an early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has been granted.

MDA is best-known as the maker of the robotic arms used on the International Space Station and the now-retired U.S. space shuttles.

The U.S. Department of Justice had asked MDA for more information regarding the takeover in September related to MDA's Montreal satellite communications antenna and payload business.

The request extended the waiting period imposed by the U.S. legislation.