Serco deal for SRA falls apart, Brits report
Bid was $2 billion but Serco walked away as price climbed
- By Nick Wakeman
- Jan 24, 2011
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.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.