Shares of IT services provider DXC Technology Company (DXC) are rising more than 10% Thursday morning on the news of it receiving acquisition proposal from rival Atos SE.
According to Reuters, the deal is worth more than $10 billion.
Today, DXC Technology confirmed that it received an unsolicited, preliminary and non-binding proposal from Atos SE, a French IT service and consulting company to acquire all DXC Technology shares.
The company said its board of directors will be evaluating the proposal.
DXC, currently at $29.25, has been trading in the range of $7.9- $36.97 in the last one year.
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