Dynamics Research to be acquired by Engility (EGL) for $11.50 per share in cash; expected to be accretive to EGL’s 2014 earnings and significantly accretive to 2015 earnings and beyond (7.25 )
- Engility (EGL) and Dynamics Research announced that they have entered into a definitive agreement under which Engility will acquire DRC.
- Under the terms of the agreement, Engility will commence a tender offer for all outstanding shares of DRC common stock at a price of $11.50 in cash for each outstanding share.
- The transaction, which was unanimously approved by the boards of directors of both companies, is expected to be accretive to Engility's 2014 earnings and significantly accretive to 2015 earnings and beyond. The acquisition is anticipated to close during the first quarter of 2014, subject to customary closing conditions and regulatory approval.