Summary
General Dynamics Corporation (GD) announced on December 13, 2005, its definitive agreement to acquire Anteon International Corporation (Anteon). This strategic move involves purchasing all outstanding Anteon shares for $55.50 in cash per share, with an estimated total transaction cost of approximately $2.2 billion. This figure includes the assumption of Anteon's $100 million in net debt, indicating a significant investment aimed at bolstering General Dynamics' market position. The acquisition is contingent upon Anteon shareholder approval, regulatory clearances, and other customary closing conditions. The company anticipates completing the transaction by the end of the second quarter of 2006. This filing provides an overview of the agreement and directs investors to a press release for further details regarding the merger.
Key Highlights
- 1General Dynamics has entered into a definitive Agreement and Plan of Merger to acquire Anteon International Corporation.
- 2The acquisition price is $55.50 in cash for each outstanding share of Anteon common stock.
- 3The total transaction cost is estimated at approximately $2.2 billion, including $100 million of Anteon's net debt.
- 4The acquisition is expected to be completed by the end of the second quarter of 2006.
- 5The deal is subject to customary closing conditions, including Anteon shareholder approval and regulatory approvals.
- 6A press release detailing the agreement is attached as Exhibit 99.1.