SRA hires investment bank to manage influx of buyers
SRA International Inc. has hired the investment bank Houlihan Lokey to provide advice, stoking rumors of a potential sale of the company, but company says no decision has been made. Who will have the final say?
Just days after reports that a takeover attempt had failed, SRA International Inc. has hired an investment bank to help it manage suitors pursing the company.
SRA said Houlihan Lokey will provide advice, following a series of inquiries regarding "the company's willingness to consider offers," according to a company statement today.
SRA Chairman Ernst Volgenau owns the majority of shares with voting power concerning a sale or merger. "The retention of advisors does not reflect a decision that the company is or should be for sale,” he said in the statement.
Earlier this week, a London newspaper reported that Serco Group of Britain had pulled out of early-stage talks about acquiring the company for around $2 billion.
SRA International, of Fairfax, Va., ranks No. 30 on Washington Technology’s 2010 Top 100 list of the largest federal government contractors.