Engility to Be Acquired by SAIC for $2.5 Billion

Paul, Weiss is representing General Atlantic as a selling shareholder of Engility Holdings Inc. in Engility’s all-stock acquisition by Science Applications International Corp. (SAIC). The acquisition will create the second largest independent technology integrator in government services. Under the terms of the agreement, Engility stockholders will receive 0.450 shares of SAIC common stock for each share of Engility stock. Based on an SAIC per share closing price of $89.86 on September 7, the transaction is valued at $40.44 per share of Engility common stock, or $2.5 billion in the aggregate, including the repayment of $900 million in Engility’s debt.

The Paul, Weiss team includes corporate partners Matthew Abbott and John Kennedy; tax partner Patrick Karsnitz; and antitrust counsel Marta Kelly.