Skip to main content

General Dynamics sweetens offer for CSRA, fending off CACI bid

WASHINGTON — Falls Church-based General Dynamics has raised its all-cash offer for information technology contractor CSRA two days after smaller government contractor CACI made a bid that topped General Dynamics’ original offer.

CSRA says it favors the new offer from General Dynamics.

While General Dynamics’ sweetened offer is still lower than CACI’s — raising the bid to $41.25 per share compared to CACI’s cash and stock offer of $44 per share — CSRA said in a statement its board of directors has determined Arlington-based CACI’s offer “could not reasonably be expected to lead to a Company Superior Proposal, as defined by terms of its merger agreement.”

CSRA says it took several factors into consideration, including the certainty of value, certainty of closing and speed of closing with the General Dynamics merger.

CSRA again recommends shareholders approve the General Dynamics offer, it said.

General Dynamics’ new offer values CSRA at $6.9 billion. It also includes the assumption of $2.8 billion in debt.

General Dynamics would get CSRA’s cybersecurity and data-analytics business and information technology contracts that would make General Dynamics the second-largest federal IT provider, according to Bloomberg data.

Massachusetts court hears arguments in lawsuit alleging Meta designed apps to be addictive to kids

BOSTON (AP) — Massachusetts' highest court heard oral arguments Friday in the state's lawsuit arguing that Meta designed features on Facebook and Instagram to make them addictive to young users. The lawsuit, filed in 2023 by Attorney General Andrea Campbell, alleges that Meta did this to make a profit and that its actions affected hundreds of thousands of teenagers in Massachusetts who use the social media platforms. “We are making claims based only on the tools that Meta has developed because its own research shows they encourage addiction to the platform in a variety of ways,” said State Solicitor David Kravitz, adding that the state's claim has nothing to do the company's algorithms or failure to moderate content. Meta said Friday that it strongly disagrees with the allegations and is “confident the evidence will show our longstanding commitment to supporting young people.” Its attorney, Mark Mosier, argued in court that the lawsuit “would impose liabilities for performing traditional publishing functions” and that its actions are protected by the First Amendment.
Read Next Story