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Monday, September 29, 2014

Computer Sciences talks to Blackstone, Bain on buyout - Bloomberg, (NYSE: BX), (NYSE: CSC)

Computer Sciences Corp has contacted private equity firms including Blackstone Group LP and Bain Capital LLC to gauge their interest in a leveraged buyout, Bloomberg reported. The talks are at an early stage and may not result in a deal, according to people with knowledge of the matter, Bloomberg said. (bloom.bg/1ryKHgr)CSC Chief Executive Mike Lawrie is arguing that a potential takeover could benefit the company as its turnaround continues, Bloomberg said.CSC spokesman Richard Adamonis said the company do not comment on market rumors. Blackstone and Bain could not be reached for comment.Private equity funds view CSC as a potentially cheap buyout based on its enterprise value, though are concerned by its cash flow and slower-growth business units, Bloomberg said. (Reporting By Sai Sachin R)

The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 0.53% or $-0.17/share to $31.83. In the past year, the shares have traded as low as $24.50 and as high as $36.08. On average, 4453910 shares of BX exchange hands on a given day and today's volume is recorded at 2280481.

Computer Sciences Corporation (CSC) is engaged in the information technology (IT) and professional services industry. Shares of CSC traded higher by 5.28% or $2.99/share to $59.62. In the past year, the shares have traded as low as $46.80 and as high as $65.52. On average, 932868 shares of CSC exchange hands on a given day and today's volume is recorded at 4701088.



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