Energy News / Shareholders Foundation, Inc.

NYSE:EGL Investor Alert: Investigation of Takeover of Engility Holdings, Inc

Via: ReleaseWire

Updated 11:30 AM CDT, Tue, September 25,2018

An investigation on behalf of investors of Engility Holdings, Inc. (NYSE: EGL) in connection with the proposed takeover was announced and NYSE: EGL stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 09/25/2018 -- The takeover of Engility Holdings, Inc. is under investigation concerning whether the takeover is unfair to NYSE: EGL stockholders.

Investors who purchased shares of Engility Holdings, Inc. (NYSE: EGL) and currently hold any of those NYSE: EGL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain directors of Engility Holdings, Inc. breached their fiduciary duties owed to NYSE: EGL investors in connection with the proposed acquisition.

On September 10, 2018, Science Applications International Corp. (NYSE: SAIC) and Engility Holdings Inc., (NYSE: EGL) announced that they have entered into an agreement under which SAIC will acquire Engility in an all-stock transaction valued at $2.5 billion ($2.25 billion net of the present value of tax assets). Under the terms of the merger agreement, Engility Holdings, Inc. stockholders will receive a fixed exchange ratio of 0.450 shares of SAIC common stock for each share of Engility Holdings, Inc. stock in an all-stock transaction. Based on an SAIC per share closing price of $89.86 on September 7, 2018, the transaction is valued at $40.44 per share of Engility Holdings, Inc. common stock or $2.5 billion in the aggregate, including the repayment of $900 million in Engility's debt.

However, the investigation concerns whether the offer is unfair to Engility Holdings, Inc. (NYSE: EGL stockholders. More specifically, the investigation concerns whether the Engility Holdings, Inc. (NYSE: EGL Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

On September 24, 2018, shares of Engility Holdings, Inc. (NYSE: EGL) closed at $35.00 per share.

Those who are current investors in Engility Holdings, Inc. (NYSE: EGL) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nyseegl-investor-alert-investigation-of-takeover-of-engility-holdings-inc-1053112.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com