Carlyle’s $4.2 Billion Acquisition of ManTech

Latham & Watkins represented Carlyle, while King & Spalding represented ManTech in the transaction.

ManTech International Corporation (Nasdaq: MANT), a leading provider of innovative technologies and solutions for mission-critical national security programs, has entered into a definitive agreement to be acquired by funds managed by global investment firm Carlyle (NASDAQ: CG) in an all-cash transaction with a total enterprise value of approximately US$4.2 billion.

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. 

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. 

Goldman Sachs & Co. LLC served as exclusive financial advisor to ManTech. Robert W. Baird & Co. served as financial advisor to Carlyle.

Latham & Watkins represented Carlyle in the transaction with a corporate deal team led by Washington, D.C. partners Daniel Lennon (Picture) and Cory Tull, with associates Mariclaire Petty, Adam Hurwitz, and Madeline Merkle. Advice was also provided on private equity finance matters by Washington, D.C. partners Jeffrey Chenard and Manu Gayatrinath, with associates Melissa Fabian and Christina Garrett; on tax matters by New York partner David Raab, with associate Lukas Kutilek; on benefits and compensation matters by Washington, D.C. partner David Della Rocca, with associates Ashlie Lawton and Grace Tang; on employment matters by Chicago partner Nineveh Alkhas, with associate Laura Waller; on government contracts matters by Washington, D.C. partner Kyle Jefcoat and Washington, D.C. counsel Dean Baxtresser, with associates Blake Page and Allen Perry; on intellectual property matters by New York partner Steven Betensky, with associate Zachary Shufro; on environmental matters by Washington, D.C. partner James Barrett, with associate James Lambert; on real estate matters by New York partner Dara Denberg, with associate Thomas Ficchi; on data privacy matters by Washington, D.C. partner Marissa Boynton, with associate Deborah Hinck; on antitrust matters by Washington, D.C. partner Marc Williamson, Brussels partner Luca Crocco, and Washington, D.C. counsel Peter Todaro; on trade controls matters by Washington, D.C. partners Les Carnegie and Damara Chambers and anti-bribery and anti-corruption matters by Washington, D.C. partner Erin Brown Jones, with associates Christopher Ting and Gustavo Ruiz.

The King & Spalding team was led by corporate partners Larry Yanowitch and Charlie Katz and corporate senior associate, Drew Pollekoff.

Involved fees earner: Charles Katz – King & Spalding; Drew Pollekoff – King & Spalding; Lawrence Yanowitch – King & Spalding; Nineveh Alkhas – Latham & Watkins; James Barrett – Latham & Watkins; Dean Baxtresser – Latham & Watkins; Steven Betensky – Latham & Watkins; Marissa Boynton – Latham & Watkins; Erin Brown Jones – Latham & Watkins; Les Carnegie – Latham & Watkins; Damara Chambers – Latham & Watkins; Jeffrey Chenard – Latham & Watkins; Luca Crocco – Latham & Watkins; David Della Rocca – Latham & Watkins; Dara Denberg – Latham & Watkins; Melissa Frankel Fabian – Latham & Watkins; Thomas Ficchi – Latham & Watkins; Christina Garrett – Latham & Watkins; Manu Gayatrinath – Latham & Watkins; Deborah Hinck – Latham & Watkins; Adam Hurwitz – Latham & Watkins; Kyle Jefcoat – Latham & Watkins; Lukas Kutilek – Latham & Watkins; Jim Lambert – Latham & Watkins; Ashlie Lawton – Latham & Watkins; Daniel Lennon – Latham & Watkins; Madeline Merkle – Latham & Watkins; William Blake Page – Latham & Watkins; Allen Perry – Latham & Watkins; Mariclaire Petty – Latham & Watkins; David Raab – Latham & Watkins; Gustavo Ruiz – Latham & Watkins; Zachary Eli Shufro – Latham & Watkins; Christopher Ting – Latham & Watkins; Peter Todaro – Latham & Watkins; Cory Tull – Latham & Watkins; Laura Waller – Latham & Watkins; Marcellus Williamson – Latham & Watkins;

Law Firms: King & Spalding; Latham & Watkins;

Clients: Carlyle Group; ManTech International Corporation;