Why DXC Stock Popped Today
Shares of DXC Technology (NYSE: DXC) popped as much as 12% today after the company confirmed that it had received an unsolicited takeover offer from Atos, a French multinational IT consulting company. Reuters had reported on the deal this morning, and the companies have both confirmed the offer. As of 12:10 p.m. EST, DXC shares were up 7%.
DXC said that it had received an "unsolicited, preliminary and non-binding proposal" from Atos last night to acquire all of DXC's outstanding shares. Prior to receiving the proposal, DXC's board had no idea that Atos was interested in an acquisition. Atos also confirmed its interest, suggesting that a friendly transaction could create a leader in digital services with global scale.
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