February 12, 2018 / 11:39 AM / 3 months ago

General Dynamics to buy govt IT contractor CSRA for $6.8 bln

Feb 12 (Reuters) - General Dynamics Corp said on Monday it would buy government IT contractor CSRA Inc for about $6.8 billion to expand its information technology unit’s customer base.

General Dynamics’s $40.75-per-share cash offer represents a premium of 32 percent to CSRA stock’s closing price on Friday.

General Dynamics, the maker of Gulfstream jets, tanks and U.S. Navy ships, said the transaction is valued at $9.6 billion, including the assumption of $2.8 billion in CSRA debt.

Reporting by Arunima Banerjee in Bengaluru; Editing by Savio D'Souza

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