Home | Business News | Browse by Publication | S | San Diego Business Journal

Third time was the charm in Lockheed-Titan deal: after two rejections, Titan chief negotiates local company's merger.

Publication: San Diego Business Journal
Publication Date: 23-FEB-04 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Though be rejected two requests to sell Titan Corp. in 2002, Chairman and CEO Gene Ray was eventually persuaded to discuss a deal after seeing the price paid for another large defense company.

According to the prospectus on the proposed acquisition of Titan Corp. by Bethesda, Md.-based Lockheed Martin Corp., Ray discouraged two overtures to sell Titan made by Lockheed President Robert Stevens in the fall of 2002.

Ray met with Stevens in October to discuss the companies' businesses, and how they could both benefit from a merger. But Ray told Stevens Titan was not for sale.

After telling his board of the meeting, Titan's directors supported Ray in that decision, according to the document.

Two months later, Stevens called Ray again and made another pitch to talk about buying the company, and...

Access Full Article, Compliments of Goliath

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from San Diego Business Journal
San Diego Biotech 15.(Proxy)(Illustration), February 23, 2004
Progress report.(Real Estate)(Public Notice), February 23, 2004
Roel Construction Co.(Construction Journal)(Brief Article), February 23, 2004
Sprotte + Watson Architecture and Planning.(Construction Journal)(Brie..., February 23, 2004
Slowly, but surely: Rob Lankford, CEO of San Diego-based development f..., February 23, 2004

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.