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SAIC Plans Split Into Two Companies; Second Quarter Results Mixed

Defense Daily Staff Defense Daily Staff
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SAIC [SAI] on Thursday said it plans to spin off into two separate publicly traded companies focused on technical services and solutions respectively, saying both businesses will benefit from eliminating conflicts of interest thereby expanding their opportunities and improving their cost structures. The tax-free spin-offs, in which SAIC’s shareholders will own 100 percent of both companies, are subject to final approval by the company’s board and are expected to occur in the second half of 2013. SAIC also reported its…

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