Private equity firm Carlyle Group (NASDAQ:CG) is said in advanced discussions to purchase defense and government services contractor ManTech International (NASDAQ:MANT) for about $4 billion.
A deal may be announced as soon as this week, according to a Bloomberg report.
The news comes after Dealreporter last month said a sales process for ManTech (MANT) had advanced with interest from strategic and private equity. Bidders for the company included Bidders include KBR Inc. (KBR), Carlyle Group (CG) and Veritas Capital’s Peraton. It was not known at the time whether Leidos (LDOS) was still involved in sale process.
Reuters reported in February that ManTech co-founder George Pedersen was exploring options for his controlling stake. Sources indicated that a sale of the company was being discussed as part of Pedersen’s estate planning. MANT later announced that Pedersen was stepping down from the board.
