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Michael Baker Confirms Offer from KS Int'l at $24.25/Share, to Review Bid

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Michael Baker Corporation Enters into Agreement to Be Acquired by Integrated Mission Solutions, LLC For $40.50 Cash Per Share

Michael Baker Corporation (NYSE: BKR) today said that it has received a letter from DC Capital Partners proposing that KS International, LLC ("KSI"), in which DC Capital has a controlling interest, acquire Baker at $24.25 per share in cash and is prepared to immediately negotiate and execute definitive agreements. The letter also states that DC Capital is in discussions with investment banks and other financial institutions and expects to have fully executed, underwritten financing commitments in the near future.

Baker's Board of Directors will review the proposal and respond in due course.

Posted-In: News M&A


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