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  • Saturday, November 23, 2024

PAE Shareholders OK Merger Deal With Amentum

Shareholders at PAE (Nasdaq: PAE) approved Thursday the proposed combination with Amentum and both parties expect the transaction to close Tuesday, Feb. 15.

Falls Church, Virginia-based PAE said Thursday holders of over 86 percent of its outstanding common stock were in favor of the merger and that all approvals needed to finalize the transaction have been secured.

Germantown, Maryland-based Amentum struck a potential $1.9 billion all-cash deal to acquire PAE in October 2021.

The proposed merger will establish a combined company with more than $9 billion in annual revenue. The new entity will focus on delivering cyber, information technology, intelligence, sensor-based technologies, synthetic training, space operations, spectrum and electronic warfare, mission support, environmental and asset management services to the U.S. government and allies.

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