Home / M&A Activity / FTC Clears Engility-TASC Deal, Firms Eye 1Q 2015 for Closure

FTC Clears Engility-TASC Deal, Firms Eye 1Q 2015 for Closure

acquisitionThe Federal Trade Commission has given Engility Holdings (NYSE: EGL) the go-ahead to continue its estimated $1.1 billion all-stock acquisition of TASC.

The FTC terminated the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and this move completes one of the conditions for the transaction’s closure, Engility said Thursday.

Engility and TASC expect to complete the transaction in the first quarter of 2015 and the deal is still subject to a vote by shareholders from both companies and finalization of the financing arrangements.

Check Also

Former Symantec Exec Nico Popp Joins Forcepoint as Chief Product Officer

Nico Popp, former senior vice president for cloud and information protection at Symantec, has been named chief product officer of cybersecurity company Forcepoint.

Microsoft Gets Task Order Under DoD’s JEDI Cloud Contract

The Department of Defense has awarded a task order worth $1M to Microsoft (Nasdaq: MSFT) under the potential 10-year Joint Enterprise Defense Infrastructure cloud computing contract.