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An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

FinanceComputer Sciences

Cap Gemini, Carlyle held talks to buy Computer Sciences

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Reuters
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February 24, 2015, 6:30 PM ET
<h1>Computer Sciences</h1>
The Virginia-based IT services provider suffered a huge $4.2 billion loss last year after having to record several write-offs on underperforming projects, the biggest of which was its disastrous contract with the U.K.'s National Health Service (which cost it $1.5 billion). Mike Lawrie, who took over as CEO in 2012 was charged with turning around the company and he responded by selling off multiple businesses and reducing management layers. The company is slowly recovering; it posted a healthy profit of $513 million in this year's first quarter, up from a loss of nearly $1.4 billion in the same period last year.
<h1>Computer Sciences</h1> The Virginia-based IT services provider suffered a huge $4.2 billion loss last year after having to record several write-offs on underperforming projects, the biggest of which was its disastrous contract with the U.K.'s National Health Service (which cost it $1.5 billion). Mike Lawrie, who took over as CEO in 2012 was charged with turning around the company and he responded by selling off multiple businesses and reducing management layers. The company is slowly recovering; it posted a healthy profit of $513 million in this year's first quarter, up from a loss of nearly $1.4 billion in the same period last year.Courtesy: Computer Sciences
Technology consultant Computer Sciences drew buyout interest from French consulting company Cap Gemini and private equity firm Carlyle Group, according to people familiar with the matter.Talks between CSC and the consortium of Cap Gemini and Carlyle started late last year but have since fizzled, the people said on Tuesday. It is unclear whether these talks will resume, the sources added.CSC, which has a market capitalization of around $10 billion, is now working with Royal Bank of Canada to review its options, the people said.

The sources requested anonymity because the talks are confidential. CSC, Carlyle, Cap Gemini and Royal Bank of Canada declined to comment. Computer Sciences shares ended trading on Tuesday down 1.3 percent at $70.84

Hedge fund Jana Partners LLC disclosed a 5.9 percent stake in CSC on Monday and said it would continue talks with the IT services and government contracting company about strategic alternatives and its board composition.

CSC’s customers include governments as well as commercial enterprises around the world. France’s Cap Gemini would need an American partner such as Carlyle to purchase any parts of CSC’s business that cannot be owned by a non-U.S. entity for national security reasons. One of CSC’s customers is the U.S. Department of Defense.

CSC has been the subject of buyout interest over the years. One person close to a previous round of discussions, nearly 10 years ago, said talks fell apart because another party and a private equity firm that had “partnered” to buy CSC could not agree on how to divide the Falls Church, Virginia-based company.

 

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