SAIC, Engility complete merger
NewsJanuary 16, 2019
RESTON, Va. & CHANTILLY, Va. Science Applications International Corp. (SAIC) officials announced the completion of its merger with Engility Holdings, Inc. Under the terms of the merger agreement, Engility became a wholly-owned subsidiary of SAIC.
The combined company will retain the SAIC name and continue to be headquartered in Reston, Virginia with Tony Moraco as CEO.
Each eligible share of Engility common stock issued and outstanding immediately prior to the effective time of the merger was converted into the right to receive 0.450 of a share of SAIC common stock, with cash paid in lieu of any fractional shares.
As a result of the merger, Engility’s common stock will no longer be listed for trading on the New York Stock Exchange and Engility will no longer have reporting obligations under the Securities Exchange Act of 1934.
