French Atos aims to buy US rival for $10bn

The French group Atos has made a takeover approach in a bid to acquire its US competitor DXC Technology and the offered price values the American firm at more than $10 billion, two sources with knowledge of the process were quoted as saying by Reuters.

Atos is operating with advisers on a possible deal for DXC, which is a former Hewlett Packard Enterprise unit, and made a formal approach earlier this week, the sources said, speaking on condition of anonymity as the matter is confidential.

Discussions are still at a preliminary stage and there is no certainty that a deal will be agreed, they said. If successful, a tie-up with DXC would increase Atos’ presence in the US, giving it access to a wide range of clients and B2B products including analytics and cloud applications as well as IT outsourcing services.

It will also lead to synergies and cost savings for Atos, which has been on an acquisition spree over the past year, the sources said.

Representatives at Atos and DXC were not immediately available for comment.

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