Honeywell Acquisition of Com Dev International Edges Closer

Canadian Space Agency (CSA) and Com Dev employees remove M3MSat from chamber after thermal vacuum (TVAC) testing. Photo: Com Dev.

[Via Satellite 01-15-2016] Honeywell’s acquisition of Com Dev International’s electrical and optical components and subsystems equipment businesses, announced Nov. 5, 2015, is closer to completion. Two key conditions, the receipt of all required regulatory approvals, and the key consents and approvals, have been satisfied.

The conditions relating to receipt of competition act approval, Hart-Scott-Rodino (HSR) act approval, and investment Canada act approval have also been satisfied. In addition, the consent of industry Canada has been satisfied. All third party approval conditions have now been satisfied. The transaction remains subject to approval by Com Dev shareholders at a special meeting on Jan. 21, and to receipt of a final order of the Ontario Superior Court of Justice.

Subject to the receipt of approval of Com Dev shareholders, receipt of the final order, and the satisfaction of other customary closing conditions, Com Dev anticipates that the arrangement will become effective in early February.