2023-03-07 07:38:48 ET
- DXC Technology ( NYSE: DXC ) dropped 2.8% in premarket trading after disclosing that it has terminated talks with a financial sponsor on a potential takeover.
- Due to the financial sponsor's challenge in raising capital and due to current market conditions, no formal proposal was received by DXC ( DXC ) and the company ended the talks, according to a statement on Monday.
- The end of talks comes after DXC Technology ( DXC ) first confirmed in early October that it had been approached by a financial sponsor regarding a potential acquisition. DXC said at the time that it was engaged in preliminary discussions, though no formal proposal had been received.
- Bloomberg reported at the time that DXC Technology ( DXC ) was approached by Baring Private Equity Asia. The news agency reported in late September that the information-technology company was working with advisers after getting takeover interest.
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DXC Technology falls after ending talks with potential buyer