SAN DIEGO, Sept. 10, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Engility Holdings, Inc. (NYSE: EGL)
("Engility") breached their fiduciary duties in connection with the
proposed sale of the Company to Science Applications International
Corp. ("SAIC"). Engility provides a range of technical services to
the U.S. Department of Defense, U.S. Department of Justice, U.S.
Department of State, Federal Aviation Administration, Department of
Homeland Security, and space-related and intelligence community
agencies.
On September 10, 2018, Engility
announced that it had signed a definitive merger agreement with
SAIC. Under the terms of the agreement, Engility stockholders will
receive a fixed exchange ratio of 0.450 shares of SAIC common stock
for each share of Engility 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 common stock.
However, shareholders will be subject to the future price
fluctuation of SAIC's stock price.
Nationally recognized Johnson
Fistel is investigating whether the Engility board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Engility
shares of common stock.
If you are a shareholder of Engility and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonfistel.com) at 619-814-4471. If emailing, please
include a phone number.
Additionally, you can [click here to join this
action]. There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
https://www.johnsonfistel.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[click here to join this action]
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SOURCE Johnson Fistel, LLP