- DXC Technology Co DXC worked with consultants after receiving takeover interest.
- At least one private equity company approached the IT service provider Bloomberg reported.
- DXC reached 10.5% decrease in sales too $3.71 billion in Q1 FY23, missing consensus of $3.73 billion. Non-GAAP EPS of $0.75 missed consensus of $0.82.
- DXC had previously rejected a takeover bid by a French technology service provider Atos Origin SA AEXAF.
- Tech dealmaking has held steady this year amid the broader M&A slump. Private equity firms love the sector and are taking advantage of the market downturn to buy.
- Lately, KnowBe4, Inc KNBE confirmed without obligation Proposed by Vista Equity Partners to acquire all of the Company’s outstanding shares at a premium of 39%.
- Price promotion: DXC shares closed up 1.77% at $27.53 on Wednesday.
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