Search Results for: Cerberus

Cerberus Completes Purchase of Sparton; Dev Kapadia Quoted

Cerberus Capital Management completed its purchase of Sparton Corp., a defense and aerospace electromechanical device manufacturer, in a cash transaction worth approximately $18.50 per share. The deal was initially announced in mid-December. Sparton said Monday it stopped trading on the New York Stock Exchange following completion of the sale. Dev …

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Cerberus to Acquire Sparton; Tarek Ajouz Quoted

New York-based private equity firm Cerberus Capital Management has agreed to pay $18.50 in cash for each outstanding share of Sparton’s (NYSE: SPA) common stock. Sparton said Wednesday its board of directors cleared the transaction, which is expected to conclude in the first quarter of calendar year 2019. Tarek Ajouz, a managing director …

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Cerberus to Buy 70% Stake in Navistar’s Defense Business

New York-based private equity firm Cerberus Capital Management has agreed to purchase a 70 percent controlling stake in Navistar International’s (NYSE: NAV) defense business for an undisclosed sum. Michael Sanford, co-head of private equity and senior managing director of Cerberus, said in a statement published Monday the company plans to …

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Report: Cerberus Eyes Potential Sale of DynCorp

Private equity firm Cerberus Capital Management is considering putting DynCorp International up for sale in a deal that could be worth at least $1.3 billion, Reuters reported Thursday. Sources told Reuters that Cerberus has tapped two investment banks to help seek offers from potential acquirers of the defense contractor. The …

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DynCorp Stockholders OK Merger with Cerberus

DynCorp International Inc. (NYSE: DCP) stockholders have approved the merger agreement with certain affiliates of Cerberus Capital Management. The firm released the following statement: “The affirmative vote of the holders of a majority of the outstanding shares of Class A common stock, par value $0.01 per share, of the Company …

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DynCorp Agrees to be Acquired by Cerberus for $1.5 Billion

Private investment firm Cerberus Capital Management will acquire DynCorp International (NYSE: DCP) for roughly $1.5 billion, according to a DynCorp press release. DynCorp’s news release said that its board of directors will recommend that stockholders approve the transaction.  According to the deal’s terms, stockholders will receive $17.55 in cash for …

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DynCorp Recorded $6.9B in Q3 2019 Backlog; George Krivo Quoted

DynCorp International posted a record backlog of $6.9B during the third quarter of 2019, driven by multiple new contract wins. “A successful year starts with winning new business and I am especially pleased with all of our wins this year,” George Krivo, DynCorp CEO and a 2019 Wash100 winner, said in a statement.

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EM’s Weekly Roundup: AECOM Sells Management Services Business to American Securities for $2.4B, Leidos Wins Two Huge Contracts, POC Announces Panelist for Unmanned Systems in the Future Fight, Executive Moves & Weekly Top 10 Stories

AECOM has entered into a definitive agreement to sell its management services business to affiliates of American Securities and Lindsay Goldberg for $2.4 billion, the company announced on Monday. The transaction has been unanimously approved by the company’s board of directors and is subject to customary closing conditions and regulatory …

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