Elliott’s Evergreen Joins Veritas to Buy Cubic for $2.21 Billion

Affiliates of Elliott Investment Management and Veritas Capital agreed to buy Cubic Corp. for $2.21 billion, a deal that would take the military-hardware manufacturer private.

Cubic shareholders will receive $70 a share in cash, a premium of 58% to the company’s closing price on the last day in September before Cubic disclosed that parties had expressed interested in an acquisition, the companies said in a statement Monday. The deal was valued at $2.8 billion including the assumption of debt.

Cubic rose 8.6% to $68.70 in light volume before the start of regular trading in New York. The stock closed Feb. ...