DXC Technology, a US information-technology services provider with a market cap of $6.16 billion, has confirmed it has been approached by a financial sponsor regarding a potential acquisition of the Company. Some reports suggest the suitor could be pan-Asian buyout firm Baring Private Equity.
A statement from DXC’s Management says it remains focused on the company’s transformation journey. Consistent with its fiduciary responsibility to maximise shareholder value, the Company is engaged in preliminary discussions and is sharing information.
The statement says: “To date no formal proposal has been received and there are no assurances that any proposal will be received or determined to be adequate by the Board of Directors. The Company does not intend to comment further on market rumours or developments unless it deems additional disclosure to be appropriate or required. The Company remains focused on delivering for its customers and colleagues as it executes its transformation journey.”
