The bid expires April 2.
Following a buyout bid of $6.8 billion in February from defense contractor General Dynamics, CSRA is fielding a $7.2 billion bid it received on Sunday from Arlington-based defense contractor CACI International.
In a press statement, CACI said its acquisition proposal would give investors an 8 percent premium over General Dynamics’ bid, and said a CACI-CSRA combination would provide better cost-savings opportunities for the federal government.
“The acquisition of CSRA by CACI would unite two businesses with long-term customer relationships, complementary capabilities and substantial presence in high-growth markets. Bringing together CACI’s mission solutions and services with CSRA’s broad range of next-generation enterprise capabilities would create a company able to provide customers with solutions that link domain and mission knowledge with industry-leading enterprise support offerings,” CACI said. “The combination with CSRA would further capitalize on this opportunity for growth, amplifying both CACI’s and CSRA’s position in key market areas and improving the value proposition and customer footprint.”
In a statement Sunday, CSRA confirmed receipt of CACI’s bid. CACI’s bid expires April 2.
“CSRA’s board of directors, in consultation with its legal and financial advisors, will carefully review and consider the proposal,” CSRA said in a statement.
President Donald Trump’s latest budget proposal ups spending in both federal IT and defense spending, and CSRA’s vast footprint of government contractors make it an attractive acquisition in the now-bustling defense market. CSRA recently won a $500 million contract—called milCloud 2.0—to build an on-premise cloud for the Defense Department. The company also captured a $2.4 billion contract for one of the National Security Agency’s most important classified IT projects.