Leidos and Science Applications International Corporation (SAIC) will likely take a break from pursuing major acquisitions after they complete their current buying sprees, according to the heads of the two US-based firms.
Roger Krone, Leidos’ chairman and CEO, and Nazzic Keene, SAIC’s CEO, both said they plan to focus on paying down debt after shelling out billions of dollars to snap up other companies.
“Our priority will be to de-lever,” Krone said. “We could be back in the [acquisition] market in a year after we get de-levered.”
“Our priority is to pay down the debt and get to our target leverage level,” Keene said.
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