CACI International Inc. has offered approximately $ 7.2 billion to the Information Technology Company CSRA Inc., an offer intended to discourage CSRA from joining the Defense Giant General Dynamics Corp. to tie, the Wall Street Journal reported.
CACI's offering is $ 44 in cash and shares for each CSRA share, outstripping the $ 40.75 all-cash deal approved by CSRA and General Dynamics in February, the Journal quotes a person familiar with the situation. CSRA, based in Falls Church, Virginia, provides services such as cyber security and data analytics.
The bid would create a $ 3.88 billion market valuation against General Dynamics for a David and Goliath competition, CACI based in Arlington, Va., Diversified defense firm with a market capitalization of $ 66.1
Lucy Ryan, a spokeswoman for General Dynamics, declined to comment. CACI and CSRA did not respond immediately to calls for comments.
If successful, CACI would prevent General Dynamics' largest acquisition, which was the largest deal to date for business jet maker Gulfstream nearly 20 years ago. The combination would have created a computer service provider with $ 9.9 billion in revenue, said General Dynamics.