News

MDA Space has announced a definitive agreement to acquire Blue Canyon Technologies, a small satellite manufacturer currently owned by RTX (Raytheon Technologies), for $620 million. The deal represents a divestiture by RTX of a subsidiary it had previously acquired. The transaction expands MDA Space's capabilities in the small satellite segment.

Iran's Khatam-al Anbiya military headquarters announced the closure of the Strait of Hormuz to all maritime traffic, citing U.S. ceasefire violations and Israel's non-withdrawal from Lebanon. The move threatens a significant disruption to global oil flows, with WTI already rising nearly $1 on Friday. Iran's negotiating team is still traveling to Switzerland, but warned the entire MoU is at risk if commitments go unfulfilled.

Iran has closed the Strait of Hormuz, citing ceasefire violations, according to Iran's MEHR news agency as reported by Reuters. The Strait of Hormuz is a critical chokepoint for global oil and gas shipments, handling roughly 20% of the world's oil supply. This action poses significant disruption risk to global energy markets and supply chains.

AbbVie is reportedly nearing a deal to acquire Apogee Therapeutics for approximately $10.9 billion, according to SeekingAlpha. The deal has not been confirmed by either company. If completed, this would represent a significant acquisition for AbbVie in the biopharmaceutical space.

Three former executives — Andre Cronje, Michael Kong, and David Richardson — have resigned from the Sonic Labs board. Concurrently, Matt Visser has been appointed as the new CEO of Sonic Labs, succeeding Mitchell Demeter who had already resigned in February. The S token fell approximately 5% following the announcements.

Elis has withdrawn its notification to the Competition and Consumer Protection Commission (CCPC) regarding its planned acquisition of OCL. The withdrawal signals a potential halt or restructuring of the deal, as regulatory filings are typically a prerequisite for completing such transactions. No further details on the rationale for the withdrawal or next steps were provided.

Teamshares Inc. has completed its business combination with Live Oak Acquisition Corp. V (NASDAQ: LOKV), a SPAC, following shareholder approval on June 16, 2026. The transaction makes Teamshares, a tech-enabled acquiror of small and medium-sized enterprises, a publicly listed company. The deal was previously announced and has now been formally closed.

MDA Space has announced a definitive agreement to acquire Blue Canyon Technologies for $620 million. Blue Canyon Technologies is a manufacturer of small satellites and spacecraft components. The deal represents a significant expansion of MDA Space's capabilities in the smallsat market.