DXC Technology Co. confirmed Tuesday that it has been approached by a “financial sponsor” about a potential acquisition. The technology consulting and outsourcing services company, with a market capitalization of $6.54 billion, did not provide any details about the potential buyer or the potential value of the deal. “Consistent with its fiduciary responsibility to maximize shareholder value, the company is engaged in preliminary discussions and is sharing information,” DXC said in a statement. “However, to date no formal proposal has been received. There are no assurances that any proposal will be received or determined to be adequate by the board of directors.” The stock was up 9.2% in afternoon trading prior to a trading halt for news. It has lost 5.0% over the past three months while the S&P 500 has slipped 1.3%.
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