Atos Bid Boosted DXC Technology Shares – Invest Chronicle
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Atos Bid Boosted DXC Technology Shares

Where the smoke is, the fire is. Following recent industry speculation about a possible transaction involving DXC Technology, the organization confirms that French multinational IT consulting company Atos has approached a potential friendly transaction between the two companies to create a global leader in digital services, leveraging their respective talents and capacity for creativity.

Atos would apply the financial restraint it has long valued in its investment approach when assessing this opportunity. There is no guarantee at this point that this strategy would lead to an arrangement or a transaction. At a later date, the firm will coordinate as required.

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Shares of DXC, which had taken a dip a day earlier, rose after details disclosed by Reuters and Bloomberg. It must be said that some observers assume, in addition to the high price listed by the press that the deal would bring into question the policy of the company if it were to be verified. At Oddo BHF, Nicolas David clarified to Bloomberg that Atos management will lose the confidence of investors as such a deal would not conform to the plan announced when Elie Girard took office in 2019.

Indeed, the CEO of Atos claimed that the policy of the company was no longer to buy ‘broken properties,’ cheap and exposed to infrastructure management, which is precisely what DXC is. However, it states that the initial value formation could be “strong” even though it involves a substantial capital increase.

DXC’s sales increased to $20.75 billion in 2020 from $19.6 billion in 2019. Around the same time, from $7.4 billion in 2019, the debt rose to $9.9 billion last year. In Q2, the revenue of $4.55 billion was reported by DXC. Earnings went up 65.49 percent, but a net loss of $235.00 million was still reported by DXC Technology.

DXC Technology Company (DXC) was up +9.3% on Thursday to close at $28.91.

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