Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

ATS Shareholder Sues Directors in Delaware Over Salient Deal

An ATS Corp. shareholder sued the company’s directors for spurning higher takeover offers than the one from Salient Federal Solutions Inc.

Two unidentified parties offered to pay more than the $3.20 a share proposed by Salient, ATS said in U.S. Securities and Exchange Commission filings. ATS failed to explore one bid of $3.35 a share, shareholder Stourbridge Investments LLC said in the complaint made public today in Delaware Chancery Court in Wilmington.

ATS, a McLean, Virginia-based provider of software to U.S. government agencies, disclosed the planned merger on Feb. 21. The deal, valued at about $73 million, will be financed with Fairfax, Virginia-based Salient’s equity-capital commitments and debt financing, the companies said.

The deal is unfair, inadequate and serves no legitimate business purpose for ATS, Stourbridge said in court papers.

Penny Parker, a spokeswoman for ATS, didn’t immediately return a phone call seeking comment on the lawsuit.

The case is Stourbridge Investments LLC v. Bersoff, CA7300, Court of Chancery of the State of Delaware (Wilmington).

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.