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CACI Withdraws Bid For CSRA Giving GD Clear Path To Complete Deal

Cal Biesecker By
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CACI Withdraws Bid For CSRA Giving GD Clear Path To Complete Deal

Stepping aside from a bidding war, CACI International [CACI] on Tuesday withdrew its $10.4 billion unsolicited offer to acquire CSRA, Inc. [CSRA], leaving General Dynamics [GD] alone to close its previously agreed transaction to purchase CSRA.GD originally agreed to acquire CSRA for $9.6 billion in cash but a counteroffer made by CACI that combined stock and cash forced GD to up its bid to $9.7 billion.CACI didn’t specify why it decided against further pursuit of CSRA, which spurned the offer,…

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