SAIC (SAI) Plans Separate Into Two Independent, Publicly Traded Companies
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Price: $15.23 +0.46%
Overall Analyst Rating:
NEUTRAL (
Down)
Dividend Yield: 6.6%
EPS Growth %: +74.2%
Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 6.6%
EPS Growth %: +74.2%
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Science Applications International Corporation (NYSE: SAI) said the board has authorized management to pursue a plan to separate into two independent, publicly traded companies.
The proposed separation is intended to take the form of a tax-free spin-off to SAIC stockholders of 100% of the shares of a newly formed company focused on government technical services and enterprise information technology (IT).
The spin-off is expected to occur in the latter half of next fiscal year, subject to final approval of the Board of Directors. The spin-off is not expected to require a vote of the stockholders of SAIC.
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The proposed separation is intended to take the form of a tax-free spin-off to SAIC stockholders of 100% of the shares of a newly formed company focused on government technical services and enterprise information technology (IT).
The spin-off is expected to occur in the latter half of next fiscal year, subject to final approval of the Board of Directors. The spin-off is not expected to require a vote of the stockholders of SAIC.
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