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Tag Archives: Reverse Morris Trust

DXC to Merge US Public Sector Business With Vencore, KeyPoint; Mac Curtis to Lead Combined Firm

DXC Technology (NYSE: DXC) has agreed to merge its U.S. public sector business with Vencore and KeyPoint Government Solutions to establish a “top five” independent, publicly traded contractor within the government information technology services sector. All three companies expect to complete the merger by the end of March 2018, subject to regulatory approvals …

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Australia’s Defense Dept Awards $419M Contract to Leidos Subsidiary for IT Products, Services

Leidos‘ (NYSE: LDOS) Abacus Innovations Australia subsidiary has secured an estimated $418.7 contract from Australia’s defense department to provide computer equipment and accessories as well as centralized processing services to the country’s chief information officer group, ARN reported Friday. Leon Spencer writes the award runs through 2023 and follows an approximately $610 million deal that Lockheed Martin‘s (NYSE: …

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Leidos’ Roger Krone Discusses Change in US Leadership and its Potential Impact on Defense Spending

Roger Krone, chairman and CEO of Leidos (NYSE: LDOS), told CNBC in an interview aired Tuesday that he thinks that all U.S. presidents tend to act the same way when it comes to the country’s defense and security of its citizens. Krone made the comment in response to a question on …

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August 16 Market Close: GovCon Index Down, Lockheed in Steep Red & Leidos Up After Deal’s Closure

Executive Mosaic’s GovCon Index dropped at least one full net point Tuesday for the first time since June 24 on a sharp drop in Lockheed Martin (NYSE: LMT) shares upon the defense contractor’s completion of the spinoff and subsequent merger of its government and technical services business into Leidos Holdings (NYSE: LDOS). Lockheed was the GCI’s …

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Leidos Views Doubled Scale in Lockheed IS&GS Merger as Buffer to Agency Spending Shifts

Leidos Holdings‘ (NYSE: LDOS) impending merger with the information systems and global solutions segment of Lockheed Martin (NYSE: LMT) seeks to both diversify customer mix and lower risk to potential spending downturns in fewer market areas for the future combined company, Leidos CEO Roger Krone told investors at the New York Stock Exchange Monday. Reston, Virginia-based Leidos expects 2017 …

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Lockheed Eyes Further Share Count Cut Via Leidos Transaction, to Use Cash Dividend for Stock Buyback

Lockheed Martin (NYSE: LMT) envisions further reductions in its outstanding share count after the merger of its information systems and global solutions business into Leidos Holdings (NYSE: LDOS) completes on its scheduled closure date of Aug. 16, Lockheed Chief Financial Officer Bruce Tanner told investors Tuesday. Tanner’s comment to analysts in the company’s second …

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Mike Lawrie: CSC Has ‘All Options’ on Table for HPE’s US Public Sector Arm Post-Merger

Computer Sciences Corp. (NYSE: CSC) CEO Mike Lawrie told investors Tuesday the company will consider an undefined range of options regarding Hewlett-Packard Enterprise‘s (NYSE: HPE)’s U.S. public sector business in conjunction with CSC’s merger into HPE’s enterprise services segment. Tysons, Virginia-based CSC is subject to a two-year non-compete agreement in the federal government field …

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Weekly Roundup Jan. 25 – Jan. 29 2016: Leidos The New ‘Big One’ After Lockheed IT Biz Merger & more

Jan. 25 – Jan. 29 2016 Click here to see Real-Time GovCon Sector Quotes A Note From Our President & Founder Jim Garrettson Needless to say, we have a lot to address here after a heavy news week that featured news of government contracting’s largest merger this decade, plus a batch of 2015 earnings reports from …

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January 27 Market Close: Boeing, Booz Allen, Textron Declines Drag GovCon Index Below 70 to 3-Month Low

The GovCon Index plunged 2.438 percent to 69.664 in its first close below the 70-point mark for the first time in almost four months to keep the 30-company listing in a correction, or at least 10 percent down from its most recent high. Boeing (NYSE: BA) — also a Dow …

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Leidos to Merge With Lockheed IT, Gov’t Services Segments in $5B Tax-Free Deal

Reston, Virginia-based contractor Leidos Holdings (NYSE: LDOS) has agreed to a merger with the government information technology and services businesses of Lockheed Martin (NYSE: LMT) under a $5 billion, tax-free Reverse Morris Trust transaction to create the government services industry’s largest publicly-traded contractor by revenue, the companies said Tuesday. Both companies — …

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