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.

Headquartered in Falls Church, Va., DynCorps provides services “in support of U.S. national security and foreign policy objectives” and has “over 60 years of experience working in remote, dangerous and austere environments,” according to its Web site. Its clients include the U.S. Departments of Defense and State.

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