Simpson Thacher Represents SAIC, Inc. in Proposed Separation into Two Publicly-Traded Companies
09.14.12
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The Firm is representing SAIC, Inc. (NYSE:SAI) in connection with its plan to separate into two publicly-traded companies. With over 40,000 employees, SAIC is a Fortune 500 scientific, engineering and technology applications company that solves critical problems in national security, energy, health and cybersecurity. Its principal customers are the U.S. Departments of Defense and Homeland Security, the intelligence community and select commercial markets.
Under the plan, SAIC will distribute all of the common stock of a newly formed company focused on government and enterprise information technology services to SAIC’s stockholders through a special dividend. The transaction is expected to be completed in 2013 and is subject to customary conditions, including receipt of a ruling from the Internal Revenue Service as to the tax-free nature of the transaction.
The Simpson Thacher team includes Gary Sellers, Caroline Gottschalk, Xavier Kowalski, Ravi Purushotham and John Kupiec (Corporate); Gary Mandel, Jonathan Goldstein and Andrew Purcell (Tax); Brian Robbins, David Rubinsky, Paul Koppel and Jeannine McSweeney (Executive Compensation and Employee Benefits) and Mindy Lok (Intellectual Property).