M&A · Industrials · Services-Engineering, Accounting, Research, Management
Amentum Holdings, Inc. to acquire PAE Inc
Announced Oct 25, 2021 · Closed Feb 15, 2022
Deal value$1.90BEV $1.90B
Premium70.0%To unaffected price
EV / Adj. EBITDA11.1x0.6x EV / Revenue
ConsiderationAll cash$10.05 per share
Transaction
- Acquirer
- Amentum Holdings, Inc. (AMTM)
- Target
- PAE Inc
- Buyer type
- Strategic
- Offer price per share
- $10.05
- Enterprise value
- $1.90B
- Status
- Closed Feb 15, 2022
Deal protections
- Break fee (target pays)
- $30.0M · 1.6%
- Reverse fee (buyer pays)
- $80.0M · 4.2%
- Go-shop
- Go-shop
- Financing
- Committed · JPMorgan, Morgan Stanley, RBC Capital Markets, BofA Securities, Goldman Sachs
Advisors
- To the acquirer
- Not disclosed
- To the target
- Morgan Stanley
Sector context · Industrials
- Comparable deals
- 41 in the prior 24 months
- Premium
- 70.0% vs. 37.0% sector median
- EV / Adj. EBITDA
- 11.1x vs. 12.2x sector median
- Break fee
- 1.6% vs. 2.8% sector median
Timeline
- AnnouncedOct 25, 2021
- Proxy filedDec 6, 2021
- Definitive proxyJan 11, 2022
- Shareholder vote—
- ClosedFeb 15, 2022