Salient Federal Solutions Announces Expiration of Tender Offer for Shares of ATS Corporation

Loading...
Loading...
ATS Corporation (NYSE AMEX: ATSC), a leading information technology company that delivers innovative technology solutions to government and commercial organizations, and Salient Federal Solutions, Inc. (Salient), a leading provider of information technology, engineering, and intelligence analytic services to agencies in the intelligence, defense, homeland security, and cyber domains, today announced that the tender offer by Atlas Merger Subsidiary, Inc. ("Purchaser") for all of the outstanding shares of common stock of ATSC at a price of $3.20 per share has expired. On February 21, 2012, ATSC announced that it had entered into a definitive merger agreement with Salient. On February 28, 2012, Salient commenced a cash tender offer to acquire ATSC's outstanding shares of common stock at $3.20 per share net to the seller in cash, without interest and less any required withholding taxes. The tender offer expired at 11:59 p.m., New York City time, on March 29, 2012, and Wells Fargo Bank, N.A., the depositary for the tender offer, has advised that, as of the expiration time, 22,552,686 shares of ATSC common stock (including approximately 215,861 shares subject to guarantees of delivery) had been validly tendered and not properly withdrawn, representing approximately 97% of the outstanding shares of ATSC. All of these shares have been accepted for payment by Purchaser.
Loading...
Loading...
Market News and Data brought to you by Benzinga APIs
Posted In: NewsM&A
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...