trending Market Intelligence /marketintelligence/en/news-insights/trending/clvphqdd960o8wypkblinq2 content esgSubNav
In This List

General Dynamics raises offer for IT services provider CSRA

Case Study

A Green Lender Adopts a Robust Approach for Assessing Project Finance Credit Risks

Case Study

An Asset Manager Meets Client Redistribution Demands for Excel-based Statements

Podcast

MediaTalk | Season 2
Ep.1: Broadcast's Big Year

Blog

Global M&A by the Numbers Q4 2023


General Dynamics raises offer for IT services provider CSRA

General Dynamics Corp. raised its all-cash offer to acquire IT services provider CSRA Inc. to $41.25 per share from $40.75 to counter a recent bid from rival CACI International Inc.

The U.S. defense contractor said its proposal is now valued at $9.7 billion, up from $9.6 billion previously, including the assumption of $2.8 billion in CSRA debt. CACI International on March 18 offered to acquire CSRA for $44.00 per share in cash and stock.

CSRA's board recommended General Dynamics' improved offer to its shareholders.

"In reaching that determination, CSRA's board of directors took into account various factors, including among others, the value, certainty of value, certainty of closing and speed to closing of the General Dynamics offer, as amended, as compared to the CACI proposal," General Dynamics said. The company noted that it has secured all required regulatory approvals and the funding to complete the CSRA acquisition in early April.