DynCorp considers sale offers
DynCorp executives are considering merger and acquisition offers from a "few" companies, a DynCorp spokeswoman said.
The company told employees March 15 that the board of directors has given management permission to evaluate the offers, said Charlene Wheeless, vice president of corporate communications of the Reston, Va.-based company. In 2001, the company had about $2 billion in revenue.
DynCorp, which is employee owned, wanted to inform its workers of the buyout potential before the company's quarterly trading day April 8, Wheeless said. Employees are only allowed to buy or sell the company's stock once a quarter.
The stock is valued at an all-time high of $46.25, and DynCorp officials were concerned employees would sell the stock and miss out on a potentially bigger payoff if the company is sold in the next few months, she said. A year ago, the stock was valued at about $31.
Wheeless declined to comment on the potential suitors. "The offers are serious enough to consider, but we haven't made a decision to merge or sell," she said.