Getting your Trinity Audio player ready...
Computer Associates International Inc. offered to buy Computer Sciences Corp. for $9 billion, stepping up pressure on the firm by disclosing the bid after months of talks broke down.
Islandia-based Computer Associates is offering $108 a share in cash for Computer Sciences of El Segundo, Calif., which helps install and run computer systems. CSC shares rose $11.69, to $103.87, while CA fell $7.31, to $50.75.
CA is betting the marriage of its software and CSC’s expertise will win business in the $124 billion technology services market. CA chief Charles Wang said the offer isn’t hostile and CA isn’t making a tender offer at this point.
