Merger activity decreased last week with two new deals announced and three deals completed.
ManTech International Corporation (MANT)
Co-founded in 1968 by Franc Wertheimer and George J. Pedersen, ManTech International Corporation is an American defense contracting firm based in Herndon, Virginia. We added ManTech as a potential deal on February 3, 2022, when Reuters reported that George Pedersen was exploring options for his controlling stake in the company. ManTech’s price after this announcement was $73.50. Reuters reported that,
“The deliberations are part of Pedersen’s estate planning, according to sources. Were the 85-year-old billionaire to pass away, the trust that holds his 32% stake in ManTech would no longer exercise voting control, according to regulatory filings.
Goldman Sachs Group has been retained to explore a sale of ManTech, the sources said. The investment bank has reached out to ManTech’s peers such as Parsons Corp and Leidos Holdings, as well as private equity firms, to gauge potential acquisition interest.”