Dynamics Research Corp. of Andover, Mass., is acquiring privately held HJ Ford Associates Inc., a Washington-based provider of engineering and information technology services to the public sector.
KPMG Consulting Inc. signed a letter of intent to acquire the business consulting units of Andersen Worldwide's member firms. The letter of intent is an offer by KPMG Consulting of McLean, Va., to acquire as many as 23 independent consulting units of Andersen Worldwide of Chicago for up to $284 million.
The acquisition should be immediately accretive to the earnings of Engineered Support Systems, said Michael Shanahan Sr., chairman and chief executive officer.
Affiliated Computer Services Inc. has acquired contracts worth $370 million, one with the University of Phoenix and the other with General Motors Corp.
TRW Inc. and Northrop Grumman Corp. announced May 6 they have signed a confidentiality agreement that will give Northrop Grumman access to non-public financial information from TRW. In light of the agreement, Northrop Grumman has extended its tender offer for shares of TRW to May 17.
Initial indications are that shareholders have rejected Northrop Grumman's proposed acquisition of TRW for $53 per share, plus assumption of $5.5 billion in debt. "TRW shareholders have spoken and their message is clear ? they support the TRW board and the actions it is taking to enhance shareholder value," said Philip Odeen, TRW chairman.
Insight Enterprises Inc. announced it has acquired Comark Inc., a value-added reseller with annual revenue of about $1.5 billion. Insight acquired privately owned Comark for $150 million ? $100 million in cash and 2.3 million shares of Insight Enterprises' stock worth about $50 million.
At their annual corporate meeting, TRW Inc. shareholders sent a mixed message on the merits of Northrop Grumman Corp.'s acquisition proposal, allowing both companies to claim victory. TRW shareholders want Northrop Grumman to begin the due diligence process in connection with its proposed acquisition of TRW, said Kent Kresa,Northrop Grumman chairman and chief executive officer.
TRW Inc.'s board of directors has rejected Northrop Grumman Corp.'s new offer to buy the company for $53 per share. The board called the new offer inadequate and is recommending that shareholders reject it, the company announced.
DynCorp executives are considering some merger and acquisition offers and told employees the board of directors had given management permission to evaluate the offers.
