France-based IT services group Atos has decided not to pursue a potential deal to acquire US competitor DXC Technology. The move follows a friendly offer for the company in early January, which unconfirmed press reports put at over USD 10 billion.
Coinciding with this latest announcement from Atos, DXC Technology issued a statement about the end of the talks, saying that the offer had been deemed inadequate. The board of directors had rejected Atos’ proposal as it undervalued the business.
DXC Technology’s financial results are due to be released on 04 February. Commenting on its quarterly financial performance, the company noted that it was going to report revenues, adjusted EBIT margin, and non-GAAP diluted EPS above guidance.
