GTSI Corp. [GTSI] yesterday said that it didn’t receive a better acquisition proposal than the planned deal by UNICOM announced last month during a 30-day period that allowed the Northern Virginia-based information technology solutions provider to shop around for additional buy-out proposals.
GTSI last month announced a $77 million cash offer for it by UNICOM but said at the time the pending deal had a “go-shop” window that allowed it to solicit and receive offers from other suitors (Defense Daily, May 15).
It said yesterday that it did receive a letter of interest from another potential bidder but not “any superior acquisition proposals.”