DynCorp International, a government services contractor that has trained police in 11 countries, including Iraq and Afghanistan, and protects American diplomats overseas has agreed to be acquired by Cerberus Capital Management for $1.5 billion.
Under terms of the deal, Cerberus will pay $1 billion in cash and assume Dyncorp’s debt. The price represents a premium of nearly 50 percent over DynCorp’s 90-day average closing trading price. DynCorp has 28 days from Cerberus’ initial offer to consider other offers.
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