Companies Score Big in Government Contracts and Mergers

Strategic Insights -

Multiple companies have secured significant government contracts and completed high-profile mergers in recent deals. BDM International Inc.'s BDM Federal unit won a contract worth $11.7 million to provide interpreters for American military personnel in Bosnia and Hungary, while CACI International Inc. secured a $66 million subcontract to provide information processing support services to federal agencies.

Legg Mason Inc. completed its acquisition of Bartlett & Co., a Cincinnati money management firm, for $36.4 million in Legg Mason stock. The acquisition was financed by issuing 1.3 million common shares, representing about 9 percent of its outstanding stock. Additionally, VSE Corp.'s CMstat unit won an Air Force contract to provide management services to Vandenberg Air Force Base in California, although financial terms were not disclosed.

In the biotechnology sector, OncorMed Inc. is filing for patents on a mutated gene it discovered while evaluating patients at risk for inheriting breast or ovarian cancer. The Gaithersburg biotechnology company estimates that up to 10 percent of breast cancer cases are inherited, and the mutated gene accounts for about half of those.

Key Takeaways:

  • BDM International Inc.'s BDM Federal unit secured an $11.7 million contract to provide interpreters for American military personnel in Bosnia and Hungary.
  • CACI International Inc. won a $66 million subcontract to provide information processing support services to federal agencies through a contract won by VGS Inc.
  • Legg Mason Inc. completed its acquisition of Bartlett & Co., a Cincinnati money management firm, for $36.4 million in Legg Mason stock.
  • VSE Corp.'s CMstat unit won an Air Force contract to provide management services to Vandenberg Air Force Base in California, although financial terms were not disclosed.
  • OncorMed Inc. is filing for patents on a mutated gene it discovered while evaluating patients at risk for inheriting breast or ovarian cancer.
  • The mutated gene accounts for about half of inherited breast cancer cases, according to OncorMed Inc.
  • Integrated Health Services Inc. entered a joint venture with Sierra Health Services Inc. to operate a 120-bed health care facility in Las Vegas.
  • Chesapeake Corp. acquired the promotional display division of Dyment Ltd., a Toronto maker of cardboard and plastic displays with annual sales of $35 million.

Statistics:

  • 1.3 million common shares were issued by Legg Mason Inc. to finance its acquisition of Bartlett & Co.
  • 2 million shares of common stock will be sold by MedImmune Inc. in its proposed public offering.
  • 500 linguists will be hired by BDM Federal to help with the Bosnia mission.
  • 16.72 million shares of common stock were outstanding at MedImmune Inc. as of September 30.
  • 10 percent of breast cancer cases are inherited, according to OncorMed Inc.
  • The mutated gene accounts for about half of inherited breast cancer cases, according to OncorMed Inc.

Sources:

  • "BDM to translate for troops in Bosnia" (Source: Unspecified)
  • "MedImmune files for stock sale" (Source: Securities and Exchange Commission)
  • "Legg Mason completes Bartlett purchase" (Source: Legg Mason Inc.)
  • "VGS taps CACI" (Source: Unspecified)
  • "VSE unit wins Air Force contract" (Source: VSE Corp.)
  • "OncorMed files for gene patents" (Source: OncorMed Inc.)
  • "Integrated Health enters joint venture" (Source: Integrated Health Services Inc.)
  • "Chesapeake unit buys Canadian display group" (Source: Chesapeake Corp.)