In the race to get the favor of and acquire ManTech, Carlyle Group’s most direct competitor was another private equity firm like it that invests in the government technology and professional services market. The financial aspect of that contest ended in an exact tie: both suitors’ best and final offers were at exactly the same cash price of around $3.9 billion, or $96 per share. But ManTech’s board opted to go with Carlyle as that bid presented more certainty on the antitrust approval front and perceived speed for signing all the necessary paperwork.
