PAE Incorporated (formerly Gores Holdings III) today in a filing announced that it has entered into a definitive agreement to be acquired by an affiliate of Amentum Government Services Holdings in an all-cash transaction valued at approximately $1.9 billion, including the assumption of debt and certain fees.
Amentum is a global technical and engineering services partner supporting critical programs of national significance across defense, security, intelligence, energy, and environment.
Under the terms of the merger agreement, PAE shareholders will be entitled to receive $10.05 per share in cash, which is subject to shareholder approval and other customary closing conditions, including regulatory approvals. The purchase price represents an approximately 70% premium over PAE’s closing price on Oct. 22.
Gores Holdings III in February completed the acquisition of PAE From Platinum Equity. Read more.
