Cybersecurity Firm CSRA Gets Rival Bid From CACI as General Dynamics Proceeds With Deal
CSRA, providing cybersecurity to the government and others, got a rival, higher takeover bid that was an unsolicited proposal from CACI, which also provides cybersecurity. But original buyer General Dynamics said it will carry on with its all-cash $9.6 billion…
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deal. Although about 8 percent more on a per-share basis, CACI's offer isn't all cash. CACI sees $165 million annually in cost savings, more than with GD. The antitrust waiting period under the Hart-Scott-Rodino Act has expired, said GD. CSRA's board, "in consultation with its legal and financial advisors, will carefully review and consider" the new bid, the acquiree said: The board hasn't "changed its recommendation that CSRA stockholders tender their shares of CSRA common stock pursuant to the Offer" from GD. After Sunday's developments, CSRA stock closed up 0.9 percent Monday at $41.02.