SAIC, Engility Stockholders OK Merger Plans

Lynn Dugle, Engility

Stockholders of both SAIC and Engility have overwhelmingly approved the companies’ merger proposals the firms announced.

Over 98 percent of the shares voting at SAIC’s Jan. 11 stockholder meeting voted in favor of the proposal to issue shares of SAIC common stock to Engility stockholders in connection with the merger. Over 99 percent of shares voting at the Engility meeting of stockholder meeting OK’d the proposal to approve and adopt the merger agreement.

One the merger is final, Engility stockholders will have the right to receive 0.450 shares of SAIC common stock for each share of Engility common stock, with cash paid in lieu of fractional

SAIC and Engility expect the closing of the transaction to occur promptly, subject to the satisfaction of all conditions.

Related:

SAIC to Buy Engility in $2.5B Deal

SAIC’s Engility Deal Named Among Top M&A Deals of Quarter

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