Carlyle in Talks to Buy U.S. Defense Contractor ManTech – Bloomberg News | Investing News
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(Reuters) – Non-public equity agency Carlyle Team Inc is in sophisticated talks to purchase U.S. protection contractor ManTech Worldwide Corp in a offer valuing it at about $4 billion, Bloomberg Information described on Sunday, citing people today familiar with the make any difference.
Reuters exclusively claimed in February that ManTech’s co-founder George Pederson was discovering choices for his managing stake that included a sale of the enterprise.
Shares of Herndon, Virginia-based ManTech have because jumped 11%. The company has a valuation of about $3.4 billion as of its final near on Friday, in accordance to Refinitiv Eikon facts.
The deal with Carlyle could be introduced as before long as this 7 days, the Bloomberg report mentioned, including that the agreement isn’t finalized and talks could nevertheless tumble aside.
ManTech and Carlyle were not instantly offered for comments when contacted by Reuters.
ManTech performs defense and non-defense contracting products and services for the intelligence group, the Pentagon and other federal government agencies. It has 9,400 employees.
The outlook for mergers and acquisitions in the protection sector has been unsure following arms maker Lockheed Martin Corp named off plans in February to get rocket engine maker Aerojet Rocketdyne Holdings Inc for $4.4 billion amid opposition from U.S. antitrust enforcers.
Due to the fact then, the Biden administration has launched a report detailing suggestions to improve competitors in its defense industrial foundation indicating immediate consolidation has established a nationwide stability chance.
(Reporting by Sneha Bhowmik and Shubham Kalia in Bengaluru Enhancing by Rashmi Aich)
Copyright 2022 Thomson Reuters.
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