Re: EG&G sold?

Message posted by Jose on July 21, 2002 at 17:10:43 PST:

URS Corp has $450 million in market value.

URS Corp Press Release immediately


URS To Acquire EG&G For $500 Million

URS says agrees to buy EG&G for $500 million

SAN FRANCISCO, July 17 (Reuters) - Engineering firm URS Corp. (NYSE:URS - News) said on Wednesday it agreed to acquire EG&G Technical Services for $500 million in order to gain more business from the U.S. federal government.

URS said in a statement that EG&G, which provides engineering services and operates and manages large federal government facilities and properties, would complement its own design and engineering services. Both companies already have some of the same government clients, according to URS.

URS said it would pay $165 million to EG&G shareholders in cash and retire about $165 million of EG&G debt. It said it would also issue $130 million in URS common stock and $40 million in convertible preferred stock.

The deal is expected to close in its fiscal fourth quarter, URS said.

URS to Buy Carlyle's EG&G Unit
URS to Buy Carlyle's EG&G Tech Services Holdings for $500 Million

S&P cuts URS corp credit rating to BB-minus

Attached link: Official URS Corp Website

In Reply to: Re: EG&G sold? posted by Rocketfox on July 21, 2002 at 14:47:33 PST:


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