Booz Allen Disagrees With DOJ Antitrust Lawsuit to Block EverWatch Acquisition
June 30 2022 - 2:14PM
Dow Jones News
By Kathryn Hardison
Booz Allen Hamilton Holding Corp. said Thursday that it strongly
disagrees with the antitrust lawsuit that the Department of Justice
filed Wednesday to block the company's proposed acquisition of
EverWatch Corp.
The DOJ filed the lawsuit in U.S. District Court in Maryland,
alleging that the merger would threaten competition for a
government contract to provide operational modeling and simulation
services to the National Security Agency.
A Booz Allen representative said that the proposed acquisition
of EverWatch, valued at $440 million, would merge two companies
with the ability to support national security interests and would
"enhance competition overall in an industry that is highly
competitive."
Booz Allen is the parent company of information technology
consulting firm Booz Allen Hamilton Inc. EverWatch, a subsidiary of
EC Defense Holdings LLC, is a government solutions company focused
on defense and intelligence work.
"Booz Allen believes the transaction would deliver significant
benefits to our government clients and we refute any suggestion
that the proposed transaction would harm government agencies or
taxpayers," company spokeswoman Jessica Klenk said.
Shares of Booz Allen were 1.9% higher at $90.22.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
June 30, 2022 13:59 ET (17:59 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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