Hey Joe did you see the news on QTEC, If not here ya go....
CACI Intl <CACI.O> to acquire Questech <QTEC.O>
ARLINGTON, Va., May 19 (Reuters) - CACI International Inc. on Tuesday said
it has signed a letter of intent to acquire QuesTech Inc. for about $42
million, including the assumption of existing debt.
CACI will buy all of the outstanding stock of QuesTech, a Falls Church,
Virginia-based information technology company, for $18-3/8 per share in cash.
The agreement assumes the disposition by QuesTech of their wholly owned
subsidiary, QuesTech Packaging Inc., which is involved in commercial
packaging techniques, CACI said.
The CACI offer has been approved by QuesTech's board and is contingent upon
the signing of a definitive agreement, regulatory review, approval by
CACI's board and the approval of QuesTech's shareholders.
The transaction, which CACI hopes to close in three to four months, will be
financed through bank borrowings.
"QuesTech's value-added capabilities will enhance CACI's solutions
offering, and will provide further technology and customer
diversification," said J.P. (Jack) London, Chairman and CEO of CACI
International, in a statement.
CACI International Inc is an information technology products and services
provider.
Robert... |
