Providence Equity Buying SRA International For $31.25 Per Sh

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SRA International (NYES:SRX) agreed to be bought by Providence Equity Partners for $1.88 billion in cash, the company announced today.Providence Equity will pay $31.25 per share, representing a 10% premium to the stock's closing price yesterday.SRA started looking for a possible buyer last October. The company's existing management team will not change.SRA is trading up 10.3% to $31.28 in pre-market trading.

Credit: Financial News Network

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