Money to pay back debt. Yes! Money to reward loyal employee's, not so much!
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Now, more layoffs to come. And, more money to top execs as performance bonus... for the next few years until HHSgoes on the chopping block again... here is some info on how the private equity firms function...
https://budgeting.thenest.com/happens-after-private-equity-buyout-28601.html
Looks like @ 1kgo+13Pi4qjw was right!
Given last night's news, looks like @1kgo+13Pi4qjw was spot on
Here we go... HHS sold to Veritas. Which is the next? :-)
DXC Technology Co., a provider of information-technology systems, is selling its business focused on state and local health services to private equity firm Veritas Capital for $5 billion in cash.
Shares of Tysons, Virginia-based DXC surged 20% in extended trading after the deal was announced. The company had said in November that it was exploring strategic alternatives for three of its non-core assets.
Veritas is paying 3.5 times the unit’s trailing 12-month sales, DXC said Tuesday in a statement.
The deal “bodes well for the company’s ability to generate returns for investors,” Anurag Rana, a Bloomberg Intelligence...
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5 billion $ for health care only, that's impressive.
Whole DXc was worth yesterday less than 4 billion.
In addition BPO and Workplace are still on sale.
Ask Mikey (any Mikey will do)
They are spinning off multiple BUs. Pretty far along in the process still not sure what that means for employees as some of the businesses are U.S. and others are foreign. Of more concerned is that a company that had a 25 billion plus market cap a year and a half ago now is valued at 5 billion.
A lot of Meetings including travel to VA and audits and financial report gathering over the last few weeks. They wouldn’t spin or sell before May/Jun promised blessed long over due salary increases would they :-) !
I haven't heard anything yet. I wouldn't doubt if we will be told at the last minute and it will happen before the end of the year.
This is Sal's best kept secret, you don't need to know just yet.
I haven't heard anything yet but I'm willing it will be by the end of the year.
Anything Folks???
Yes - everyone's head is spinning!
US State and Local. Moving along. Meetings in VA today and tomorrow determining what systems need to be duplicated for spin off. Tons of financial reports and audits over the last few weeks for urgent meetings. No rumors that I know of if scenarios is buy/merge or investors. Heard summer time as estimated completion. Vibe feels sooner though