Amentum’s $1.9 Billion Acquisition of PAE Incorporated

On October 25, 2021, leading government services contractors Amentum Holdings LLC (“Amentum”) and PAE Incorporated (“PAE”) announced a definitive agreement under which an affiliate of Amentum will acquire PAE. The all‑cash transaction for all outstanding shares of common stock of PAE is valued at approximately $1.9 billion, including the assumption of debt and certain fees. Cravath is representing Amentum in connection with the transaction.

The Cravath team is led by partners Richard Hall and David J. Perkins and includes associates Adam M. Sanchez and Zachary B. Ramirez‑Brunner on M&A matters; partner Tatiana Lapushchik, of counsel Kimberly A. Grousset and associate Joshua Kameel on financing matters; partner J. Leonard Teti II and associates Andrew T. Davis and Carlos Nicholas Obando on tax matters; practice area attorney Courtnii Lamar on executive compensation and benefits matters; partner David J. Kappos and associate Carys J. Webb on intellectual property matters; senior attorney Annmarie M. Terraciano on environmental matters; senior attorney Jesse M. Weiss on regulatory matters; and practice area attorney Brian M. Budnick on real estate matters. Ikechi J. Ngwangwa also worked on M&A matters and Daniel M. Barabander also worked on intellectual property matters.