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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Csra Inc. | NYSE:CSRA | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 41.23 | 0.00 | 01:00:00 |
From Jun 2019 to Jun 2024
By Doug Cameron
General Dynamics Corp. on Tuesday boosted its offer for CSRA Inc. in an effort to fend off the unsolicited bid for the federal information technology provider from rival CACI International Inc.
The maker of Abrams tanks and Gulfstream business jets raised its all-cash offer for CACI to $41.25 a share from $40.75 to rival the cash and stock counterbid made by CACI last week.
CACI's bid had been worth $44 per share before a big slide in its stock price on Monday as investors expressed concern about the debt it would have to take on to finance a bid. CACI's offer is worth $41.79 a share, based on Monday's closing price, but it would also have to fund a $204 million break up fee.
CSRA's board recommended the new General Dynamics offer to its shareholders.
General Dynamics' tender offer for CSRA runs through April 2 after reaching an agreed deal last month. The company on Sunday criticized elements of CACI's unsolicited bid.
CSRA shares were up almost 1% at $41.35 in pre-open trade.
Write to Doug Cameron at doug.cameron@wsj.com
(END) Dow Jones Newswires
March 20, 2018 09:57 ET (13:57 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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