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Engility to buy TASC for ~$1.1B

Oct. 28, 2014 4:49 PM ETEngility Holdings (EGL) StockBy: Carl Surran, SA News Editor
  • Engility Holdings (NYSE:EGL) agrees to acquire privately-held TASC, a provider of professional services, for ~$1.1B, including the assumption of $613M in debt.
  • EGL, a provider of skilled personnel services to the Defense Department, Justice Department and other government entities, says the combined company would generate revenue of ~$2.5B in 2014.
  • TASC stockholders will receive 18.9M EGL shares, or ~51% ownership stake in the combined company; EGL shareholders will receive a special cash dividend of ~$11.40/share for each share they own.
  • EGL +4.2% AH.

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