CSRA and CSC Split, CSRA Completes Merger with SRA International

CSRA announced it has completed its separation from CSC and is now trading as an independent public company under the ticker symbal CSRA.  In addition, CSRA completed its previously announced merger with SRA International which was previously majority owned by Providence Equity Partners.  As part of the merger, SRA shareholders received $390M in cash and approximately 25M CSRA shares representing approximatley 15 percent of the outstanding common shares.  

As expected on a deal like this, a whole host of advisors were involved in the transaction including RBC Capital Markets, Guggenheim Securities, and Goldman Sachs as financial advisors to CSC regarding the spin-off of CSRA.  Guggenheim Securities was financial advisor to CSC and CSRA on the SRA merger with RBC Capital Markets also providing advice.  Allen & Overy LLP was legal advisor to CSC on the spin-off of CSRA and legal advisor to CSC and CSRA on the merger with SRA.  Skadden Arps Slate Meagher and Florm LLP  provided legal advice on tax matters related to the spin-off of CSRA.