CSC Enters into Five-Week Due Diligence Process to Acquire UXC Limited, $1.26 Aussie Dollars Per Share Or $300M USD Upon Completion

CSC (NYSE: CSC) today announced that it has entered into exclusive negotiations to acquire the shares of UXC Limited (ASX: UXC) subject to due diligence, board approvals, and other requirements. The agreed-upon price would be A$1.26 per share. Based on 340 million shares of UXC outstanding, the purchase price would be approximately A$428 million (US$300 million) upon transaction completion. UXC is Australia's largest independent and publicly owned IT services company, with reported fiscal 2015 annual revenues of A$686 million (US$480 million) and 3,000 employees. The transaction is subject to completion of a five-week exclusive due diligence process, negotiation of a Scheme of Implementation Agreement and respective board approvals, along with customary regulatory and court approvals for transactions of this type in Australia. If the process results in a transaction, it would be expected to be finalized by February 2016.