This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here


SRA International, Inc. (NYSE: SRX), a leading provider of technology and strategic consulting services and solutions to government organizations, today announced the completion of its acquisition by an affiliate of Providence Equity Partners in an all-cash transaction.

As previously announced, the transaction was approved by SRA shareholders at a special meeting of shareholders held July 15, 2011. Pursuant to terms of the merger agreement, SRA shareholders will receive $31.25 per share in cash. With the consummation of the transaction, SRA common stock will be delisted from the New York Stock Exchange.

Dr. Ernst Volgenau, SRA Founder and Chairman, said, “We believe that Providence Equity will be an excellent partner. Their values and culture are consistent with our longstanding ethic of honesty and service. SRA has a bright future.”

Julie Richardson, a Managing Director at Providence, said, “We look forward to partnering with Ernst and the entire SRA team to help SRA achieve its tremendous potential as a leading innovator in the national security, civil government, health and intelligence sectors.”

SRA will remain headquartered in Fairfax, Va., and maintain its offices around the world. SRA Founder and Chairman Dr. Ernst Volgenau will continue to serve as Chairman of the SRA Board.

Holders of certificated shares of SRA common stock will receive a letter of transmittal and instructions on how to surrender their shares of SRA common stock in exchange for the merger consideration and should wait to receive the letter of transmittal and instructions before surrendering their shares. Shareholders of uncertificated shares of SRA common stock (i.e., holders whose shares are held in book entry form) will automatically receive their cash consideration as soon as possible after the effective closing date of the merger without any further action required on the part of such holders.

Houlihan Lokey acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to the Special Committee of SRA’s Board of Directors in connection with the transaction. The Avascent Group acted as strategic diligence advisor, Citigroup Global Markets Inc., BofA Merrill Lynch and Goldman Sachs acted as financial advisors and Debevoise & Plimpton LLP served as legal counsel to Providence in connection with the transaction.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs