DynCorp International, the private military contractor, said on Monday it has agreed to sell itself to Cerberus Capital Management for $1.5 billion, as the private equity industry continues to return to its core business of deal-making. Cerberus will pay $17.55 a share for DynCorp, a 49 percent premium to Friday’s closing price of $11.75. DynCorp now has 28 days under a “go-shop” provision within the deal agreement to find a higher and better offer. While DynCorp has continued to win new contracts from the federal government, it has also been the subject of controversy over the years for its assignments...
