DXC (ticker: DXC) said that it received the proposal Wednesday night, and that its board will be evaluating the proposal.
Atos (ATO.France) also issued a statement confirming that it has approached DXC about “a potential friendly transaction…in order to create a Digital Services Leader benefiting from global scale, talent and innovation.”
The confirmations followed a Reuters report that Atos has offered to acquire DXC for more than $10 billion including the assumption of debt.
DXC was formed in 2017 via the merger of Computer Sciences Corp. with the old enterprise services segment of
Cowen analyst Brian Bergin wrote in a research note that a DXC/Atos deal “would yield a global infrastructure and application services leader” with about $30 billion of combined sales.
“Atos has been quite acquisitive in recent years and DXC would enhance [its] U.S. presence with a substantial roster of commercial clients and provide broader applications, analytics and engineering services,” he wrote.
DXC shares rallied 11% to $29.40 in midmorning trading Thursday. In Paris, Atos shares were down 11.9%, to €66.30, or about $81.
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