Acquisition Increases CSC's Domestic and Offshore Healthcare Expertise and
Service Delivery Capabilities
EL SEGUNDO, Calif. and LONG BEACH, Calif., Oct. 31 /PRNewswire-FirstCall/ -- Computer Sciences Corporation (NYSE: CSC) and First Consulting Group, Inc. (Nasdaq: FCGI) today announced that they have entered into an agreement and plan of merger through which CSC will acquire First Consulting Group (FCG) in an all-cash transaction for $13.00 per share, or approximately $365 million. The transaction is expected to be neutral to reported CSC earnings and accretive to free cash flow within the first 12 months.
The agreement was approved by the Board of Directors of CSC. The FCG Board of Directors has also approved the agreement and plan of merger, and recommends that its stockholders approve the agreement and merger. The transaction is expected to be completed during the first calendar quarter of 2008 (which is the fourth quarter of CSC's fiscal year 2008 and the first quarter of FCG's fiscal year 2008).
"This acquisition furthers CSC's Project Accelerate strategy by
enhancing our expertise and intellectual property associated with the key
healthcare vertical market and expanding our global delivery capabilities,"
said CSC Chairman, President and Chief Executive Officer Michael W. Laphen.
"With this action, we significantly strengthen our healthcare capabilities
and offerings, as well as expand our healthcare presence in the United
|SOURCE Computer Sciences Corporation|
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