DXC Technology Company - DXC STOCK NEWS

DXC Technology has successfully completed its cash tender offers for its 4.450% senior notes due 2022, expiring on March 22, 2021, with total valid tenders of approximately $120.8 million from its notes and $6 million from its subsidiary's notes. The company plans to pay for the accepted notes on March 23, 2021, and will retire remaining notes totaling $153.7 million and $164.8 million on April 15, 2021. MUFG Securities acted as the dealer manager for this transaction.

DXC Technology Company announced cash tender offers for its senior notes due 2022, providing a consideration based on U.S. Treasury Security yields. The offers expire on March 22, 2021. Holders must tender their notes before the expiration or comply with guaranteed delivery to receive payment. Notes not validly tendered will be retired on April 15, 2021. MUFG Securities Americas is the dealer manager, and Global Bondholder Services Corporation is the tender agent. This press release contains forward-looking statements and clarifies it does not constitute an offer to sell any notes.

DXC Technology Company (NYSE: DXC) has initiated tender offers for its 4.450% senior notes due 2022 and similar notes issued by its subsidiary, Computer Sciences Corporation. The offer, totaling $274.47 million for DXC Notes and $170.80 million for CSC Notes, aims to buy back these securities for cash. The tender offers will expire on March 22, 2021. Concurrently, DXC plans to fully redeem all remaining outstanding DXC and CSC Notes by April 15, 2021, using cash on hand. Important dates include the expected settlement on March 23, 2021, and the guaranteed delivery settlement on March 25, 2021.

DXC Technology has appointed Dawn Rogers and Kiko Washington to its Board of Directors, effective March 4, 2021. Rogers brings 35 years of HR experience, notably as the Chief HR Officer at Pfizer, where she managed HR for 85,000 employees. Washington, with a similar tenure at Warner Bros., held responsibilities in HR leadership and organizational transformation. Chairman Ian C. Read commended their leadership and expertise, stating their contributions will support the company's transformation journey focused on customers and employees.

DXC Technology (NYSE: DXC) reported third-quarter results for fiscal year 2021, showing revenue of $4,288 million and net income of $1,103 million. Non-GAAP net income was $221 million, with diluted EPS at $4.29. Global Business Services (GBS) revenue fell 18.6% year-over-year, while Global Infrastructure Services (GIS) revenue decreased 11.1%. Bookings totaled $2.7 billion for GBS and $2.2 billion for GIS. Despite declining revenues, the company reported improved margins and exceeded non-GAAP diluted EPS guidance, indicating effective cost optimization.

DXC Technology received an unsolicited proposal from Atos SE, which was deemed inadequate by DXC's Board. After evaluating the offer, the Board concluded it did not reflect the value DXC could create independently. Discussions between the two companies have ceased. DXC remains optimistic about its transformation strategy and reported exceeding its financial guidance in the third quarter, achieving a book-to-bill ratio greater than 1.0x. Full third-quarter results will be disclosed on February 4, 2021.

DXC Technology announced the release of its third quarter financial results for fiscal 2021, scheduled for February 4, 2021, at 4:15 p.m. EST. Senior management will host a conference call at 5:00 p.m. EST, with domestic callers dialing 800-949-2175 and international callers using +1-323-994-2131. The conference replay will be available until February 11, 2021. For more details, including the webcast and presentation slides, visit DXC's Investor Relations website.

DXC Technology (NYSE: DXC) announced it received an unsolicited, non-binding acquisition proposal from Atos SE. The DXC board will evaluate this proposal while maintaining its focus on customer service and its ongoing transformation journey. Notably, DXC had no prior knowledge of Atos's interest before receiving the proposal. The company's commitment to its stakeholders remains strong as it assesses this potential acquisition.

DXC Technology (NYSE: DXC) has renewed its IT outsourcing contract with SEG Automotive Germany GmbH for five years. This partnership allows DXC to manage SEG's data center, facilitating the optimization of IT investments and a shift towards cloud solutions. The management will leverage a hybrid strategy, combining DXC’s virtual private cloud and Microsoft Azure, aiming for cost savings and enhanced operational efficiency. SEG anticipates a 20% reduction in system costs, highlighting DXC's expertise and understanding of its business needs.