May 22, 2024

Alex o'Loughlin

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Carlyle in Talks to Buy U.S. Defense Contractor ManTech – Bloomberg News | Investing News

(Reuters) – Non-public fairness organization Carlyle Group Inc is in innovative talks to obtain U.S. protection contractor ManTech International Corp in a deal valuing it at about $4 billion, Bloomberg News described on Sunday, citing men and women common with the make a difference.

Reuters solely documented in February that ManTech’s co-founder George Pederson was checking out solutions for his managing stake that involved a sale of the company.

Shares of Herndon, Virginia-dependent ManTech have considering that jumped 11%. The organization has a valuation of about $3.4 billion as of its previous shut on Friday, according to Refinitiv Eikon info.

The deal with Carlyle could be announced as shortly as this week, the Bloomberg report said, adding that the settlement isn’t really finalized and talks could however drop aside.

ManTech and Carlyle were being not quickly obtainable for reviews when contacted by Reuters.

ManTech performs defense and non-protection contracting products and services for the intelligence group, the Pentagon and other federal government businesses. It has 9,400 workers.

The outlook for mergers and acquisitions in the defense sector has been uncertain soon after arms maker Lockheed Martin Corp known as off options in February to buy rocket motor maker Aerojet Rocketdyne Holdings Inc for $4.4 billion amid opposition from U.S. antitrust enforcers.

Since then, the Biden administration has launched a report detailing recommendations to raise levels of competition in its defense industrial foundation saying quick consolidation has produced a countrywide protection hazard.

(Reporting by Sneha Bhowmik and Shubham Kalia in Bengaluru Modifying by Rashmi Aich)

Copyright 2022 Thomson Reuters.