DXC Attracts Takeover Interest

  • DXC Technology Co DXC worked with advisers after receiving takeover interest.
  • At least one private equity firm approached the IT service provider, Bloomberg reported.
  • DXC clocked a 10.5% revenue decline to $3.71 billion in Q1 FY23, missing the consensus of $3.73 billion. Non-GAAP EPS of $0.75 missed the consensus of $0.82.
  • Earlier, DXC refused a takeover offer from French technology services provider Atos Origin SA AEXAF.
  • Technology dealmaking has held steady this year amid the broader slump in mergers and acquisitions. Private equity firms love the sector and exploit the market dip to go shopping. 
  • Recently, KnowBe4, Inc KNBE confirmed a non-binding proposal from Vista Equity Partners to acquire all outstanding company shares at a 39% premium.
  • Price Action: DXC shares closed higher by 1.77% at $27.53 on Wednesday.
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