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Engility issues offer for DRC stock

Jan. 6, 2014 at 9:20 AM

CHANTILLY, Va., Jan. 6 (UPI) -- Government services contractor Engility Holdings has started an $11.50 per share tender offer for all outstanding common stock of Dynamics Research Corp.

The offer began Dec. 30 and expires at midnight, Jan. 28 and is part of a previously announced merger plan between DRC, Engility Corp. and Engility Solutions Inc.

"The tender offer is subject to conditions set forth in the merger agreement, including, without limitation, the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended," Engility said.

A tender offer statement has been filed with the U.S. Securities and Exchange Commission and contains the offer to purchase DRC and related tender offer documents, which set forth the terms and conditions of the tender offer.

DRC is an information technology and services company headquartered in Massachusetts. It is a technology and management consulting organization, serving the federal government and state governments.

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