Arnold & Porter Seals DC Capital's $397M Engineering Buy

Law360, New York (July 29, 2013, 9:47 PM EDT) -- Engineering firm Michael Baker Corp. on Monday agreed to sell itself to Integrated Mission Solutions LLC, a government contractor owned by private equity firm DC Capital Partners LLC, in a $397 million buyout shaped by Baker's incorporation in Pennsylvania.

Similar to language in the buyout agreement for H.J. Heinz Co., another Pennsylvania corporation, DC Capital has promised to maintain Baker's name, Pittsburgh headquarters and current organization “essentially intact.”

IMS will launch a $40.50-per-share tender offer for Baker's shares, a 37 percent bump over the unaffected stock...
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