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  • Friday, April 19, 2024

ManTech Shareholders OK Proposed Acquisition by Carlyle; Kevin Phillips Quoted

Shareholders at ManTech International (Nasdaq: MANT) approved Wednesday a proposed agreement to sell the company to global investment firm Carlyle (Nasdaq: CG) and both parties expect the transaction to be finalized during the week of Sept. 12, pending satisfaction of other customary closing conditions.

ManTech said Wednesday more than 99 percent of the votes cast at the shareholders’ special meeting were voted in favor of the merger.

In May, Carlyle agreed to buy ManTech in an all-cash transaction valued at approximately $4.2 billion.

Under the transaction’s terms, ManTech stockholders will get $96 a share in cash.

“We look forward to completing the transaction with Carlyle to deliver immediate and premium value to our stockholders, stronger outcomes for our customers and more opportunities for our employees,” said d Kevin Phillips, chairman, president and CEO of ManTech and a 2022 Wash100 Award winner.

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