13 November 2015 Insurance

CSC mulls offer for Xchanging

IT services firm Computer Sciences Corporation (CSC) has issued a last-minute show of interest for Xchanging, potentially foiling process management firm Capita’s plans to acquire.

According to Xchanging, CSC approached the company with an indicative proposal to acquire the entire issued and to be issued share capital of Xchanging for 170 pence per share in cash.

Previously, Apollo and Capita had proposed acquisition bids, with Apollo dropping out earlier in November. Capita’s offer currently stands at 160 pence per share in cash.

CSC is required to announce a firm intention to make an offer for Xchanging or drop out by December 9, 2015.

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