DynCorp Sold

DynCorp, one of the 10 largest majority ESOP-owned companies, has agreed to be sold to CSC Corporation for just under $1 billion. DynCorp had revenues of $2.3 billion and 23,000 employees worldwide, providing defense, security, aerospace, and aviation services. A management-led buyout acquired the company in 1987. The ESOP was a minority owner at first, but eventually bought controlling interest. The sale is pending final approval.