SM&A moves forward with Odyssey merger after go-shop period ends; stockholders to vote Dec. 29

By Lisa Kerner

Charlotte, N.C., Dec. 16 - SM&A ended its go-shop period, led by Wedbush Morgan Securities Inc., with no other potential buyers identified.

The go-shop period was provided under SM&A's merger agreement with Odyssey Investment Partners, LLC affiliate Project Victor Holdings, Inc. and its wholly owned subsidiary, Project Victor Merger Sub, Inc.

SM&A, a Newport Beach, Calif., competition management services company, agreed to be acquired by Odyssey for $6.25 per share in cash in a transaction valued at about $119.6 million.

The company will hold a special meeting of stockholders at noon ET on Dec. 29 in Newport Beach for the purpose of voting on the transaction.

SM&A's board of directors unanimously approved the transaction, which is expected to close near the end of 2008 or early in the first quarter of 2009 subject to shareholder approval, it was previously reported.

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