Done Deal: DynCorp Purchased by Cerberus; Bill Ballhaus Speaks Out
Bill Ballhaus
Cerberus Capital Management has completed the acquisition of DynCorp, the security-contracting firm reported.
“With this announcement, DynCorp International enters an exciting new chapter,” said Bill Ballhaus, DynCorp International CEO. “Built on six decades of trusted performance for the U.S. government, this solid foundation will only be strengthened by the operational and financial expertise that Cerberus brings. I look forward to continuing on our path of growth and excellence in the areas of defense, diplomacy and development.”
Bill Ballhaus was an ExecutiveBiz “Person to Watch” in 2009.
“Cerberus is pleased to be partnering with DynCorp International,” said Timothy F. Price, Cerberus managing director and spokesperson. “We look forward to the company’s continued success in serving its customers around the globe.”
DynCorp noted the following: “Pursuant to the terms of the merger agreement, DynCorp International’s stockholders are entitled to receive $17.55 in cash, without interest, less any applicable withholding taxes, for each share of DynCorp International Class A common stock owned by them. As a result of the merger, DynCorp International’s common stock will no longer be listed for trading on the New York Stock Exchange effective at the close of business on July 7, 2010.”
Posted by John Adams
on Wednesday, July 7th, 2010. Filed under General, News.
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