CACI Makes Bid for CSRA, Seeking to Break Up General Dynamics Deal for CSRA
March 18 2018 - 1:24PM
Dow Jones News
By Dana Mattioli and Doug Cameron
CACI International Inc. has made a roughly $7.2 billion bid to
buy CSRA Inc. in an attempt to break up the information-technology
provider's sale to General Dynamics Corp.
CACI has offered $44 per share in cash and stock, according to a
person familiar with the situation. That would top the
$40.75-a-share all-cash deal CSRA agreed to last month with General
Dynamics that has yet to close.
It isn't clear what CSRA's reaction to the bid is and whether
CACI will ultimately prevail.
It would be a big bite for Arlington, Va.-based CACI, which has
a market value of just under $4 billion even after its shares
closed at an all-time high Friday. It could have a difficult time
outgunning General Dynamics, a major aerospace-and-defense
contractor with a market value of $66 billion.
Write to Dana Mattioli at dana.mattioli@wsj.com and Doug Cameron
at doug.cameron@wsj.com
(END) Dow Jones Newswires
March 18, 2018 13:09 ET (17:09 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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