CACI International (NYSE: CACI) has agreed to purchase a General Dynamics (NYSE: GD) business unit for approximately $80 million, the Washington Business Journal reported Tuesday.
Sources said the transaction involves CSRA™s former systems engineering and acquisition services unit that performed work for Naval Sea Systems Command and was acquired by General Dynamics through its purchase of the government information technology services contractor in April.
The report said the Federal Trade Commission cleared the proposed deal by issuing a notice to terminate the required 30-day waiting period for the transaction under the Hart-Scott-Rodino Act.
CACI offered to buy CSRA in March in a cash-and-stock transaction worth approximately $7.2 billion but General Dynamics decided to increase its acquisition offer for CSRA.
