A consortium of private credit firms has lined up a roughly $2.9bn debt package backing Carlyle Group Inc.’s acquisition of US government contractor ManTech International marking the latest win for deal-hungry direct lenders.
The group of lenders includes the credit arm of Blackstone Inc., as well as Oak Hill Advisors, Crescent Capital Group and Blue Owl Capital Inc., according to people familiar with the matter.
Under the terms of the transaction, ManTech shareholders will receive $96.00 per share in cash, which represents a 32% premium to ManTech’s unaffected closing share price of $72.82 on February 2, 2022, the last trading day prior to published media reports regarding a potential strategic process for the Company, and a 17% premium to the closing stock price of $81.97 on May 13, 2022.
Read more: Bloomberg
