Lookheed -- CSC Deal Falls Apart
Jennifer Mears writes in NetworkWorld:
It's all over but the crying: Lockheed Martin has apparently lost interest in outsourced IT provider Computer Sciences Corp.
The IT services firm, which specializes in government contracts, had been eyed by defense giant Lockheed Martin, but The Wall Street Journal reported on Saturday that talks had broken down. That news sent CSC's stock, which had jumped 20% during the last month as a result of the buyout talks, tumbling on Monday to $48 from about $54 on Friday.
CSC was asking $65 per share, or about $12 billion. According to some reports, the price tag proved to be too much for Lockheed and a group of private equity investors who were negotiating the CSC buy.
posted by Fergie @ 11/22/2005 05:46:00 PM
0 Comments:
Post a Comment
<< Home