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CSC to split into two
Computer Sciences Corporation's Board of Directors has unanimously approved a plan to separate the company into two publicly traded, pure-play companies: one to serve commercial and government clients globally and one to serve public sector clients in the US.
Concurrent with the separation, CSC intends to pay a special cash dividend to shareholders of USD 10.50 per share at closing, which is expected by October 2015.
“CSC began its turnaround three years ago,” said CEO Mike Lawrie. “That turnaround has progressed strongly, and our focus now turns to positioning the business for long-term growth and leadership. The best way to accelerate that transformation is by separating the company into two businesses, each uniquely positioned to lead its market by focusing strongly on the needs of its clients.”
