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Xchanging calls on shareholders to back CSC offer

Mon, 11th Jan 2016 09:00

(ShareCast News) - Xchanging called on its shareholders to accept an offer from Computer Sciences Corporation, as it pointed out that a superior offer from Ebix Inc was unlikely to materialise.Xchanging announced back in November that it had received an offer of 175p per share in cash from Ebix, but in December it announced its intention to unanimously recommend a cash offer of 190p per share from CSC and it still remains unclear whether Ebix will be able to beat this.The outsourcer noted that despite the significant amount of time available to it, Ebix has not confirmed that it will be able to make a superior offer or provided evidence that it could finance one."Given the very limited engagement that Ebix or its advisers have had with Xchanging to date, there remains no certainty that Ebix will announce a firm intention to make an offer," it said.It added that its shareholders should be aware that if CSC does not receive at least 75% of acceptances by 1300 GMT on Friday, they may lose out on the chance to sell off their holdings.At 0918 GMT, Xchanging shares were down 0.4% to 191p.
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14 Oct 2015 07:42

London pre-open: Stocks seen lower; wage growth figures eyed

(ShareCast News) - London stocks are expected to open lower on Wednesday as worries about global growth weigh on investors' minds and following weak Chinese inflation data. The FTSE 100 index is seen opening down 47 points at 6295. On the data front, UK claimant count and average weekly earnings a

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14 Oct 2015 07:03

Xchanging recommends 160p per share offer from Capita

(ShareCast News) - Outsourcing group Capita said the board of peer Xchanging has recommended its 160p per share offer, which values the company at around £412m, although Xchanging is still in discussions with Apollo Global Management. The deal, which is expected to be immediately earnings-accretive

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14 Oct 2015 06:27

Xchanging Recommends Capita Bid As Apollo Mulls Competing Offer

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5 Oct 2015 15:59

LONDON MARKET CLOSE: Stocks Rally Despite Weak Services Data

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5 Oct 2015 11:23

LONDON MARKET MIDDAY: Stocks Rise As US Cheer Offsets Rugby Gloom

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5 Oct 2015 09:42

WINNERS & LOSERS SUMMARY: Xchanging Jumps 50% On Capita, Apollo Bids

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5 Oct 2015 08:00

BUZZ-Xchanging: best day ever as fields two takeover bids

** Xchanging surges 55 pct in strong volumes & on track for sharpest intra-day move ever ** Outsourcing co says in talks over two separate all-cash takeover bids from larger rival Capita and U.S. buyout firm Apollo Global Management ] ** Apollo makes 170p/shr proposal, while Capita's

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5 Oct 2015 07:42

London pre-open: FTSE seen sharply higher after strong reversal on Wall Street

(ShareCast News) - UK stocks are expected to open with strong gains on Monday, taking their cue from an impressive reversal on Wall Street on Friday. The FTSE 100 is being called up 115 points at 6245. On the data front, UK services PMI is due at 0930 BST, while in the US, ISM non-manufacturing is

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5 Oct 2015 07:24

Xchanging rockets on buyout offers from Capita and Apollo Global Management

(ShareCast News) - Shares in business outsourcer Xchanging rocketed after the company confirmed it has received approaches from peer Capita and private equity group Apollo Global Management regarding offers for the company. Capita said it has been in discussions with the board of Xchanging since ear

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5 Oct 2015 06:40

Xchanging Confirms Takeover Bids From Capita And Apollo Global (ALLISS)

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5 Oct 2015 05:55

PRESS: Capita And Apollo Competing To Buy Xchanging - FT

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4 Oct 2015 19:29

Sunday newspaper round-up: Global recession, Glencore, Prudential

(ShareCast News) - Emerging economies risk "leading the world economy into a slump", with lower growth and a rout in financial markets, according to the latest Brookings Institution-Financial Times tracking index. Released ahead of the annual meetings of the International Monetary Fund and World Ban

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22 Sep 2015 07:55

Xchanging's New Chief Executive To Join Sooner Than Anticipated

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16 Sep 2015 08:28

Xchanging names new CEO

(ShareCast News) - Craig Wilson has been appointed as the new chief executive (CEO) of Xchanging, the business technology and service provider said. Wilson, who joins the group from HP Enterprise Services, will replace Ken Lever, who announced his intention to step down on 29 July and will leave his

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16 Sep 2015 07:52

Xchanging Names New Chief Executive To Succeed Lever

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