General Dynamics clears antitrust hurdle for CSRA deal
- By Ross Wilkers
- Mar 15, 2018
General Dynamics’ pending acquisition of CSRA has cleared a key federal regulatory hurdle to keep the process of closing the blockbuster government IT deal on track, the companies said Wednesday in a Securities and Exchange Commission filing.
The standard 30-day waiting period as mandated by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired on Tuesday. Large mergers and acquisitions can move forward after the waiting period expires or if the government ends that period early.
Both companies expect to close the transaction during the first half of this year and it remains subject to the completion of a tender offer of CSRA stock in favor of the deal. General Dynamics will pay $6.8 billion in cash and assume $2.8 billion in CSRA’s net debt.
CSRA will become a part of General Dynamics’ IT services division post-close and they project that combined business to be a $9.9 billion-revenue entity.
Click here to read all of our previous coverage so far on the GDIT-CSRA combination.
Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at email@example.com. Follow him on Twitter: @rosswilkers. Also find and connect with him on LinkedIn.