Jacobs (J) has finalized the adjustments in its transaction with Amentum Holdings (AMTM, Financial), securing $70 million and entitlement to 7,299,065 shares of Amentum's common stock. This settlement stems from the separation of Jacobs’ Critical Mission Solutions and Cyber & Intelligence units, which were combined with Amentum Parent Holdings, leading to Amentum's debut as a publicly traded entity last year.
The $70 million received has been allocated by Jacobs towards paying down its existing debt. Furthermore, Jacobs plans to distribute the acquired shares of Amentum, which constitute 3% of Amentum's total shares at the close of the CMS Separation Transaction, to its shareholders. This distribution is pending approval from Jacobs' Board of Directors, which will also decide the record date for eligible shareholders.
This marks the closing chapter of the CMS Separation Transaction, bringing to completion all post-closing financial adjustments as stipulated in the original agreements. Jacobs' strategic maneuver not only solidifies its financial standing but also benefits its shareholders by providing them with a direct stake in Amentum's future growth.
