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Article: United States: Northrop To Sell TASC Unit To Private-equity Consortium For $1.65 Bln Cash.
- Article from:
- TendersInfo
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: kusumv03
Global security company and defense contractor Northrop Grumman Corp. announced Sunday that it has agreed to sell its advisory services business TASC, Inc. to consortium led by General Atlantic LLC and affiliates of Kohlberg Kravis Roberts & Co. L.P. for $1.65 billion in cash. The transaction, which is subject to customary regulatory conditions including the Hart-Scott-Rodino approval, is expected to close in the fourth quarter of 2009.
In a statement, TASC's general manager, prospective president and chief executive officer, Wood Parker said, "Today's announcement is another major milestone in TASC's long history of leadership in ...