CSC Spells Out $568 Million Bid for Mynd/PMSC
Wednesday, June 21st, 2000 TechnologyComputer Sciences Corporation and Policy Management Systems Corporation, which operates as Computer Sciences Corporation (CSC), say they‘ve entered into an agreement whereby CSC will acquire Columbia, SC-based Mynd for $16 per share in an all-cash transaction. With approximately 35,500,000 PMS shares outstanding, the offer has an equity valuation of about $568 million. Mynd’s board of directors approved the agreement. The acquisition of Mynd, a provider of systems, services and sourcing to the global insurance and related financial services industries, enhances CSC‘s ability to service its clients in those industries, the companies say. Mynd will become part of CSC‘s global Financial Services Group headquartered in Austin, Texas.
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