SRA hires investment bank to manage influx of buyers
Company says retention of advisers does not reflect decision to sell
- By David Hubler
- Jan 26, 2011
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.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.