Hello, Guest!
  • Wednesday, April 24, 2024

SAIC’s Planned Engility Buy Inches Closer to Completion as Waiting Period Under Antitrust Law Ends


Science Applications International Corp. (NYSE: SAIC) has met one of the conditions needed to complete its proposed acquisition of Engility (NYSE: EGL) with the expiration of the required waiting period for the deal under the Hart-Scott-Rodino Antitrust Improvements Act.

SAIC said Tuesday the waiting period ended Monday, Oct. 22, with respect to the transaction, which is still subject to other customary closing conditions. 

SAIC agreed to buy Engility in September through an all-stock transaction valued at $2.5B in a move to expand its presence in space and intelligence sectors.

The Reston, Va.-based information technology services contractor will assume Engility’s $900M debt under the deal and expects the transaction to conclude by Feb. 1, 2019.

Video of the Day

Related Articles

Dan Davis Named ASRC Federal Solution Architecture VP Executive Moves

Dan Davis Named ASRC Federal Solution Architecture VP

Dan Davis, a GovCon industry executive, has joined ASRC Federal as vice president of solution architecture. He announced his appointment in a LinkedIn post published Monday. Davis brings to the role his decades of experience leading strategic planning, business development, technology product design and development, systems engineering, procurement, project management, integration and testing initiatives. Prior

Charles Faulkner Named QinetiQ US’ Business Development VP for NGSS Business Executive Moves

Charles Faulkner Named QinetiQ US’ Business Development VP for NGSS Business

Charles Faulkner, a national security and intelligence leader, has joined QinetiQ Group’s U.S. subsidiary as vice president of business development for the national and global security solutions business. He disclosed the move in a LinkedIn post published Wednesday. In his current role, Faulkner will advance development and growth initiatives at QinetiQ US in support of

Raymond James Highlights M&As, Major Contract Awards in Defense & Government Market M&A Activity

Raymond James Highlights M&As, Major Contract Awards in Defense & Government Market

The defense and government investment banking team of financial services company Raymond James has released a report highlighting the financial performance of several public companies in the government contracting market, recent mergers and acquisitions and major contracts awarded in 2023.