Pae Inc., which offers operational services to the U.S. government and its allies, said Monday it has struck a deal to be acquired by a unit of Amentum...
Pae Inc., which offers operational services to the U.S. government and its allies, said Monday it has struck a deal to be acquired by a unit of Amentum Government Services Holdings LLC in an all-cash transaction valued at about $1.9 billion. Under the terms of the deal, Pae shareholders will receive $10.05 per share in cash, or a roughly 70% premium over the closing price on Oct.
22, the last trading day before the deal was announced. The stock jumped 72% premarket on the news. Amentum offers technical and engineering services for programs across defense, security, intelligence, energy, and environment. Pae now has a"go-shop" period effective through Nov. 29, where it may seek alternative bids from third parties. The agreement includes a break fee, should Pae terminate the merger agreement.
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