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Stock Market & Financial Investment News

News Breaks
December 23, 2013
06:31 EDTEGL, DRCOEngility Holdings to acquire Dynamics Research for $11.50 per share in cash
Engility Holdings (EGL) and Dynamics Research (DRCO) announced that they have entered into a definitive agreement under which Engility will acquire DRC. Under the terms of the agreement, Engility will commence a tender offer for all outstanding shares of DRC common stock at a price of $11.50 in cash for each outstanding share. The transaction, which was unanimously approved by the boards of directors of both companies, is expected to be accretive to Engilityís 2014 earnings and significantly accretive to 2015 earnings and beyond. The acquisition is anticipated to close during the first quarter of 2014, subject to customary closing conditions and regulatory approval. Completion of the transaction is subject to, among other things, the valid tender without withdrawal of a two-thirds majority of the outstanding shares of DRC common stock, regulatory approvals including approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions. Following completion of the tender offer, subject to customary exceptions, any shares of DRC stock not tendered will be converted into the right to receive the same price per share paid by Engility in the tender offer. The transaction is not subject to any financing condition. Bank of America Merrill Lynch is serving as the financing provider to Engility. SunTrust Robinson Humphrey, Inc. is serving as financial advisor to Dynamics Research Corporation, and Stifel, Nicolaus & Company, Incorporated provided a fairness opinion to DRCís board of directors in connection with the transaction.
News For EGL;DRCO From The Last 14 Days
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April 11, 2014
09:00 EDTEGLEngility Holdings rises 3.7%
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April 10, 2014
10:12 EDTEGLEngility Holdings management to meet with CRT Capital
Meeting to be held in Boston on April 17 hosted by CRT Capital.

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