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Ares To Buy Global Defense For $223M
Private equity firm, Ares Management, will acquire Global Defense Technology & Systems for about $223.1 million.
Private equity firm, Ares Management, will acquire Global Defense Technology & Systems for about $223.1 million, The Wall Street Journal reports. As per the deal, the shareholders of Global Defense, which provides information technology to the national security agencies and the U.S. government, will get $24.25 a share.
Ares will also assume Global Defense debt in the deal, which will boost the total value of the transaction to $315 million, adds The Associated Press. The deal is expected to be completed by the second quarter of 2011.
Click here for the story from The Wall Street Journal.
Click here for the additional coverage from The Associated Press.