Market Chatter: Apollo, Kyndryl May Make Joint Bid for DXC Technology

MT Newswires Live06-11

Apollo Global Management (APO) and Kyndryl Holdings (KD) are in talks about making a joint bid for DXC Technology (DXC), Reuters reported Monday, citing people familiar with the matter.

Apollo and Kyndryl are mulling an acquisition bid for the company of $22 to $25 a share, one of the sources said, Reuters reported.

Separately, DXC is running a process to sell its insurance-software division for over $2 billion, and may decide to stay as an independent company, Reuters reported, citing the sources.

A DXC spokesperson declined to comment to MT Newswires, while Apollo and Kyndryl didn't immediately respond to requests for comment by MT Newswires.

Apollo shares were slightly higher, Kyndryl was down 1.5% and DXC rose 4.6% in recent after-hours activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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