Defense Base Act Compensation Blog

The Modern Day DBA Casualty

DynCorp Investigations

Posted by defensebaseactcomp on April 12, 2010

Downgrades & investigations – DynCorp aquisition could be a bumpy ride

Thanks to Forseti at Ms Sparky’s  for reporting

Rigrodsky & Long, P.A. Announces Investigation of DynCorp International Inc.

WILMINGTON, Del., Apr 12, 2010 (BUSINESS WIRE) — Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of DynCorp International Inc. (“DynCorp” or the “Company”)  concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into a definitive agreement to be acquired by Cerberus Capital Management, L.P. (“Cerberus”) in a transaction valued at approximately $1.5 billion.

Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of DynCorp International, Inc. – DCP

NEW YORK–(BUSINESS WIRE)– Levi & Korsinsky is investigating the Board of Directors of DynCorp International, Inc. (“DynCorp” or the “Company”) (NYSE: DCP) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to affiliated funds and/or managed accounts of private investment firm Cerberus Capital Management, L.P. (“Cerberus”). Under the terms of the transaction, DynCorp shareholders will receive $17.55 in cash for each DynCorp share of common stock they own for a total transaction value of approximately $1.5 billion.

Wells Fargo Downgrades DynCorp (DCP) to Market Perform Following $17.55/Share Cash Offer

DynCorp (DCP) Agrees To $1.5 Billion Private Equity Takeover Wells Fargo has just issued a mid-day downgrade on shares of DynCorp International (NYSE: DCP); the firm now rates the stock a Market Perform, down from Outperform previously. Wells Fargo raised its valuation range from $15-$17 to $17.55.

The downgrade follows news this morning that DynCorp will be acquired by PE firm Cerberus Capital for $17.55/share. Shares of DynCorp. have surged more than 48% today

Be sure to read this post at Ms Sparky’s with the comments

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