Stockholder votes have been taken and substantially all said "Yes" to the transaction.
ManTech's current two-decade run on the public markets now has an official end penciled in after the company's shareholders approved its sale to the Carlyle Group.
Carlyle Group will complete its $3.9 billion cash buy of ManTech the week starting Sept. 12 (this coming Monday) pending the satisfaction of other customary closing conditions, both parties said Wednesday.
The transaction's enterprise value comes out to $4.2 billion when including debt, while stockholders will receive $96.00 per share in cash.
An overwhelming 99.8% of the shares voted in favor of the transaction. Exactly 3,763 shares voted against the sale to Carlyle and 66,508 abstained, according to a regulatory filing.
Included in that block of "Yes" votes: those of co-founder and long-time leader George Pedersen and his family. They agreed to do so as a condition for Carlyle to proceed with the acquisition of ManTech.
For the record: ManTech's initial public offering in 2002 saw its stock open at $16 and close at $18.21 on day one of trading. On May 13, 2022, the Friday before the Carlyle transaction was announced on May 16, ManTech's shares closed at $81.21.