CSC Enters into Five-Week Due Diligence Process to Acquire UXC Limited
October 05 2015 - 5:02PM
Business Wire
CSC (NYSE: CSC) today announced that it has entered into
exclusive negotiations to acquire the shares of UXC Limited (ASX:
UXC) subject to due diligence, board approvals, and other
requirements.
The agreed-upon price would be A$1.26 per share. Based on 340
million shares of UXC outstanding, the purchase price would be
approximately A$428 million (US$300 million) upon transaction
completion. UXC is Australia’s largest independent and publicly
owned IT services company, with reported fiscal 2015 annual
revenues of A$686 million (US$480 million) and 3,000 employees.
The transaction is subject to completion of a five-week
exclusive due diligence process, negotiation of a Scheme of
Implementation Agreement and respective board approvals, along with
customary regulatory and court approvals for transactions of this
type in Australia.
If the process results in a transaction, it would be expected to
be finalized by February 2016.
About CSC
Computer Sciences Corporation (CSC) is a global leader of next
generation information technology (IT) services and solutions. The
Company's mission is to enable superior returns on our clients’
technology investments through best-in-class industry solutions,
domain expertise and global scale. CSC has approximately 70,000
employees and reported revenue of $11.7 billion for the 12 months
ended July 3, 2015. For more information, visit the company's
website at www.csc.com.
Forward-looking Statements
All statements in this press release and in all future press
releases that do not directly and exclusively relate to historical
facts constitute “forward-looking statements.” These statements
represent the Company’s intentions, plans, expectations and
beliefs, and are subject to risks, uncertainties and other factors,
many of which are outside the Company’s control. These factors
could cause actual results to differ materially from such
forward-looking statements. For a written description of these
factors, see the section titled “Risk Factors” in CSC’s Form 10-K
for the fiscal year ended April 3, 2015 and any updating
information in subsequent SEC filings. The Company disclaims any
intention or obligation to update these forward-looking statements
whether as a result of subsequent event or otherwise, except as
required by law.
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CSC ContactsMedia:Rich Adamonis,
862-228-3481radamonis@csc.comorSheila Dhillon, +61
423-884-848sdhillon@csc.comorInvestor Relations:George Price,
703-641-3842gprice4@csc.com
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