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.