CSC TO ACQUIRE COVANSYS FOR $34.00 PER SHARE
Computer Sciences Corporation (NYSE: CSC) and Covansys Corporation (NASDAQ: CVNS) today announced that they have entered into an agreement under which CSC will acquire Covansys for $34.00 per share in an all-cash transaction. The transaction is valued at approximately $1.3 billion, and is expected to be earnings per share neutral to CSC during the first 12 months.
The agreement was approved by the Board of Directors of CSC. The Covansys Board of Directors, on the recommendation of a Special Committee composed entirely of independent directors, has approved the agreement and recommends that Covansys stockholders approve the merger. The transaction is expected to be completed during the second quarter of CSC’s fiscal year 2008.
For more details, Please visit - www.csc.com
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Computer Sciences Corporation (NYSE: CSC) and Covansys Corporation (NASDAQ: CVNS) today announced that they have entered into an agreement under which CSC will acquire Covansys for $34.00 per share in an all-cash transaction. The transaction is valued at approximately $1.3 billion, and is expected to be earnings per share neutral to CSC during the first 12 months.
The agreement was approved by the Board of Directors of CSC. The Covansys Board of Directors, on the recommendation of a Special Committee composed entirely of independent directors, has approved the agreement and recommends that Covansys stockholders approve the merger. The transaction is expected to be completed during the second quarter of CSC’s fiscal year 2008.
For more details, Please visit - www.csc.com
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