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Stock Market & Financial Investment News

News Breaks
December 3, 2012
08:01 EDTCSC, EFXCSC to sell credit services unit for $1B to Equifax
As part of its transformation initiative to rebalance its portfolio of services and focus on next-generation technology solutions and services, CSC (CSC) has reached a definitive agreement with Equifax (EFX) for the sale of its credit services unit for $1B in cash. The after-tax proceeds from the sale of the business will be approximately $750 - $800 million based on preliminary plans. CSC intends to use $300M-$400M to repurchase shares, contribute $300M-$400M to its pension plans and apply the remainder to general corporate purposes. The companies anticipate closing of the transaction by the end of the calendar year after concluding regulatory reviews. This deal marks CSC’s second divestiture in six weeks.
News For CSC;EFX From The Last 14 Days
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October 9, 2015
08:43 EDTCSCCSC shares look undervalued heading into spinoff, says Susquehanna
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October 5, 2015
18:49 EDTEFXEquifax confirms $75M increase in all-cash bid to acquire Veda Group
Equifax confirmed that it has increased its all-cash non-binding proposal to acquire all the outstanding shares of common stock of Veda Group Limited to AUD$2.825 per share, increasing its offer by $75M, resulting in an implied market capitalization of approximately $1.7B. The Veda board has agreed to unanimously recommend this proposal assuming it proceeds to a binding offer. Equifax is pleased that the Veda Board has determined to move forward to allow Equifax to engage in due diligence and negotiate a mutually acceptable definitive agreement. There is no certainty that any transaction will ultimately be agreed to or as to the terms on which such a transaction, if any, might occur, and any transaction would be subject to a number of conditions, including regulatory approval and Equifax board approval. Equifax does not intend to make any additional comments on this matter unless and until it believes it is appropriate to do so or a definitive agreement has been reached.
18:08 EDTEFXEquifax revised offer for Veda Group recommended by Veda's board, Bloomberg says
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17:05 EDTCSCCSC enters 5-week due diligence process to acquire UXC for A$1.26 per share
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