Global Defense Technology & Systems/Ares Management
On March 3, 2011, Global Defense Technology & Systems, Inc. (Nasdaq: GTEC) has entered into a definitive agreement to be acquired by an Ares Management LLC affiliate for $24.25 per share, or total consideration of $315 million (including assumption of debt, and pre-expenses).
The tender offer is not subject to any financing contingencies.
Closing is expected in Q211.
Cowen and Company, LLC is acting as exclusive financial advisor to GTEC. Morrison & Foerster LLP and Pillsbury Winthrop Shaw Pittman LLP are acting as legal advisors to GTEC and its Board of Directors. Wells Fargo Securities LLC is acting as financial advisor to Ares. Proskauer Rose LLP and Arnold & Porter LLP are acting as outside legal counsel to Ares.
The tender offer is not subject to any financing contingencies.
Closing is expected in Q211.
Cowen and Company, LLC is acting as exclusive financial advisor to GTEC. Morrison & Foerster LLP and Pillsbury Winthrop Shaw Pittman LLP are acting as legal advisors to GTEC and its Board of Directors. Wells Fargo Securities LLC is acting as financial advisor to Ares. Proskauer Rose LLP and Arnold & Porter LLP are acting as outside legal counsel to Ares.
