February 2021

Cubic Corporation Completes $2.8 Billion Sale to Veritas Capital and Evergreen Coast Capital

United States - California

Cubic Corporation, a public transportation and defense technology company, completed a $2.8 billion sale to Veritas Capital and Evergreen Coast Capital Corporation. The transaction is expected to close during the second calendar quarter of 2021, subject to customary closing conditions, including the receipt of shareholder and regulatory approvals. The all-cash transaction will be valued at approximately $2.8 billion, including the assumption of debt.

Faegre Drinker represented Cubic in the sale. The cross-office, cross-practice Faegre Drinker team advised on various legal aspects of the transaction, uniting attorneys from the firm’s corporate, mergers and acquisitions, benefits and executive compensation, labor and employment, capital markets, and public companies and governance practices.

Headquartered in San Diego, California, Cubic is a technology-driven, market-leading provider of integrated solutions that increase situational understanding for transportation, defense C4ISR, and training customers worldwide to decrease urban congestion and improve the militaries’ effectiveness and operational readiness.

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