Serco deal for SRA falls apart, Brits report

Bid was $2 billion but Serco walked away as price climbed

Serco has backed off an attempted $2 billion takeover of SRA International, a British newspaper is reporting.

SRA rejected Serco’s first bid, but then Serco backed off after another bidder drove the price higher than Serco was willing to reach, according to the London Telegraph.

Serco is a U.K.-based defense contractor that does business in the United States as Serco North America. Both SRA and Serco are ranked on Washington Technology’s Top 100 list of the largest government contractors.

A Serco North America spokesman said. "We are not in any discussion regarding any major transaction at this time."

Calls to SRA seeking comment were not returned late Monday.

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close
 Top 100 Promo 2016
contracts DB
SEARCH

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. Read More