Booz Allen said Monday it expects to close and settle the transaction Friday, then Morgan Stanley will reserve 1 million shares for Booz Allen to repurchase a per share price equal to the initial offering.
This announcement comes early three months after Carlyle Group said it would cut its stake in Booz Allen to 37 percent through a sale of shares to J.P. Morgan Securities.
Morgan Stanley will offer the 12 million shares of stock to the public at a fixed price, Booz Allen said.