IBM-Spinoff Kyndryl, Apollo Eyeing DXC Technology In Potential Joint Acquisition: Report
Portfolio Pulse from Benzinga Neuro
Apollo Global Management and Kyndryl Holdings are considering a joint bid for DXC Technology, with a per-share bid ranging between $22 and $25. This news caused DXC's shares to surge by 11%, closing at $18.45. DXC is also seeking bids for its insurance software business, valued at over $2 billion. The potential acquisition comes as Kyndryl receives positive attention from Wall Street, and Apollo continues to be a major player in private equity.
June 11, 2024 | 1:20 am
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POSITIVE IMPACT
Apollo Global Management is in discussions for a joint bid to acquire DXC Technology, which could enhance its portfolio in the IT services sector.
Apollo's involvement in the potential acquisition could strengthen its position in the IT services sector, which may be viewed positively by investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
DXC Technology's shares surged by 11% following news of a potential joint bid by Apollo Global Management and Kyndryl Holdings. The bid ranges between $22 and $25 per share.
The potential acquisition bid has directly impacted DXC's stock price, causing a significant surge. The bid range suggests a premium over the current trading price, indicating positive investor sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Kyndryl Holdings is considering a joint bid with Apollo Global Management to acquire DXC Technology, reflecting its growing influence in the IT services sector.
Kyndryl's potential acquisition of DXC Technology could enhance its market position and is likely to be viewed positively by investors, especially given its strong buy sentiment from analysts.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80