UXC, which owns Dynamics VAR UXC Eclipse, had already signaled the offer was favorable and CEO Cris Nicolli said he would retire next year if the deal went through. CSC's revenue for the year ended June 30 $12.2 billion so that's probably the last we'll see of financial results regarding the reselling as UXC's entire revenue is hardly material to CSC results. UXC had revenue of roughly $498 million for the year ended June 30. The deal is scheduled to close in February.
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UXC AGREES TO CSC BUYOUT Featured
Australia-based UXC has agreed to a buyout offer from Computer Sciences Corp. That translates to about 90 cents per share. In Australian dollars, that is $1.22 per share plus a 2-cent-per share interim dividend for the half year ending December 31. The companies did not do the math but there were about 330 million shares outstanding when UXC's year ended on June 30 so that puts the deal around $297 million. The total of $1.24 per share is down from the initial $1.26-per-share offer.
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