“General Dynamics should have a clear path to acquiring CSRA now after CACI withdrew its late, contesting bid to buy the IT contractor Wednesday.”
“General Dynamics offered to buy CSRA for $9.6 billion in February, merging it with its General Dynamics IT business. About a month later, CACI challenge the GDIT merger with a $7.2 billion bid for CSRA, at which point GD upped its bid to $9.7 billion.”
“CACI CEO Kenneth Asbury announced the withdrawal of that offer, despite the continued belief “that CACI and CSRA would be the superior strategic and financial business combination. The potential for such a high value and transformational transaction certainly warranted our pursuit of this unique opportunity.”
“He added…” Read the full article here.
Source: CACI drops CSRA bid, clearing path for General Dynamics – By Billy Mitchell, March 28, 2018, FEDSCOOP.
