ManTech International Corp on Monday agreed to a $3.93 billion all-cash deal with Carlyle Group Inc as the private equity firm strengthens its portfolio of U.S. defense contractors.
Carlyle has offered $96 per ManTech share held, representing a 17% premium to the stock’s closing on Friday. The company’s shares were up about 15% in early trading in a weak broader market.
Shares have gained about 11% since Reuters in February reported that ManTech’s co-founder, George Pederson, was exploring options for his controlling stake that included a sale.
Fairfax, Virginia-based ManTech performs defense and non-defense contracting services for the intelligence community, the Pentagon and other government agencies.
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