facebook
twitter
search
search

Engility issues offer for DRC stock

Jan. 6, 2014 at 9:20 AM
Sign up for our Security Newsletter

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.

Related UPI Stories
Latest Headlines
Trending Stories
United Launch Alliance launches GPS IIF-12 satellite for U.S. Air Force
SM-6 missile demonstrates capabilities
$66M set aside by U.S. for military facilities in Philippines
U.S. Navy requests 4,000 Tomahawk cruise missiles in budget
Turkish Aerospace Industries UAV Anka makes debut flight