An American multinational corporation that provides information technology services and professional services Computer Sciences Corp. is in talks with private equity firms including Blackstone Group LP and Bain Capital LLC to measure their interest in a leveraged buyout, people told Bloomberg.
The talks are at an early stage and may not result in a deal, according to the people, who asked not to be named because the negotiations are private. CSC, as the company is known, provides information technology services to clients including NASA and Avis Budget Group Inc.
CSC rose 5.3 percent to $59.62 in New York trading yesterday, giving the company a market value of about $8.65 billion. If it goes private, CSC’s would be the largest leveraged buyout since Michael Dell and Silver Lake Management LLC acquired Dell Inc. for more than $16 billion last year.
CSC Chief Executive Officer Mike Lawrie is trying to convince potential suitors that a turnaround at the company, which he took over in 2012, is halfway done, one of the people said. Lawrie is arguing that buyers could benefit as the reorganization continues, the person said.
Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Computer Sciences Corp., Blackstone Group LP, Bain Capital LLC, NASA, Avis Budget Group Inc., Michael Dell, Dell Inc., Silver Lake Management LLC, Mike Lawrie.