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Apollo Global and Kyndryl Holdings consider joint acquisition of DXC Technology

Investing.com - Apollo Global, a prominent private equity firm, and Kyndryl Holdings, an IT service provider that recently spun off from IBM (NYSE:IBM), are considering a joint bid for DXC Technology (NYSE:DXC), sources familiar with the matter told Reuters on Monday.

The potential acquisition price for DXC, another IT services provider, is speculated to be between $22 and $25 per share, as per one of the insiders.

DXC is simultaneously exploring the sale of its insurance software division, which is expected to fetch over $2 billion.

Furthermore, DXC might choose to maintain its independence under the leadership of Raul Fernandez, who assumed the role of CEO in February, as per the sources.

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The sources wished to remain anonymous due to the sensitive nature of the matter. DXC, which boasts a market value of $3 billion, and Kyndryl did not immediately respond to requests for comments, while Apollo opted not to comment.

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