5th Oct 2015 05:55
LONDON (Alliance News) - Outsourcing firm Xchanging PLC is understood to be the target of two competing takeover bids which would value the company at up to GBP421 million, the Financial Times reported.
Capita PLC, the FTSE 100-listed outsourcer, and US buyout house Apollo Global Management are both understood to have made offers for the London Main Market listed company, the FT said.
https://next.ft.com/content/71b5716c-6a95-11e5-8171-ba1968cf791a
The move comes after Xchanging's chief executive said he would leave, after shares in the company slumped following a profit warning in July.
Replacing Ken Lever, who will leave at the end of the year, Craig Wilson joins the company as chief executive designate on Monday, earlier than previously expected. He is moving from HP Enterprise Services.
By Sam Unsted; [email protected]; @SamUAtAlliance
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