Amentum inches closer to PAE acquisition

Amentum is inching closer to its acquisition of PAE, with the latter company announcing Wednesday there are no other interested buyers.

PAE said the "go-shop" period had expired, where "representatives of Morgan Stanley & Co. LLC, the company's financial advisor, contacted and sought to engage in discussions regarding alternative acquisition proposals with potentially interested third parties. The company did not receive an alternative acquisition proposal from any third party that constitutes a Company Acquisition Proposal (as defined in the Merger Agreement)."

On Oct. 25, Amentum and PAE announced the merger of the two companies, with Amentum paying approximately $1.9 billion. "The go-shop period expired at 12:01 a.m. on November 29, 2021," PAE said.

The merger is expected to close in the first quarter of 2022, according to PAE.

Amentum CEO John Vollmer told Inside Defense last January that with the acquisition of DynCorp International under its belt, the company was still pursuing new acquisitions.

"We are definitely looking, and I would not rule out [a] large” deal, he said at the time, noting Amentum was interested in cybersecurity, among other areas.