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Apollo Global and Kyndryl Holdings consider joint acquisition of DXC Technology

Published 2024-06-10, 06:00 p/m
© Reuters

Investing.com - Apollo Global, a prominent private equity firm, and Kyndryl Holdings, an IT service provider that recently spun off from IBM (NYSE:IBM), are considering a joint bid for DXC Technology (NYSE:DXC), sources familiar with the matter told Reuters on Monday.

The potential acquisition price for DXC, another IT services provider, is speculated to be between $22 and $25 per share, as per one of the insiders.

DXC is simultaneously exploring the sale of its insurance software division, which is expected to fetch over $2 billion.

Furthermore, DXC might choose to maintain its independence under the leadership of Raul Fernandez, who assumed the role of CEO in February, as per the sources.

The sources wished to remain anonymous due to the sensitive nature of the matter. DXC, which boasts a market value of $3 billion, Kyndryl did not immediately respond to requests for comments, while Apollo opted not to comment.

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