Cubic completes its sale to Veritas & activist hedge fund -- Washington Technology
By Ross Wilkers May 25, 2021 After a highly active process that started and restarted, Cubic Corp. said Tuesday it has completed the sale of itself to private equity firm Veritas Capital and activist hedge fund Elliott Investment Management. Veritas and the Paul Singer-led Elliott group will pay $2.38 billion in cash to acquire Cubic and assume around $600 million in that company’s debt, bringing the deal’s enterprise value to roughly $3 billion. For Cubic stockholders, that translates to a...
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Source: washingtontechnology.com