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Engility Expects To Close DRC Acquisition On Friday

By Cal Biesecker

Wednesday, January 29th, 2014

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Engility Expects To Close DRC Acquisition On Friday

Government technology and missions services provider Engility Holdings [EGL] on Wednesday said it has completed the tender offer for all the outstanding shares of Dynamics Research Corp. [DRCO], paving the way for the company to complete the $121 million cash purchase on Friday. Engility said that 86 percent of DRC’s stock was tendered by the end of Tuesday, the deadline for the offer. Another 1 percent of DRC’s stock was guaranteed for delivery. Engility said it will acquire the remaining…

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