September 29, 2014 / 8:26 PM / 3 years ago

Computer Sciences talks to Blackstone, Bain on buyout - Bloomberg

Sept 29 (Reuters) - Computer Sciences Corp has contacted private equity firms including Blackstone Group LP and Bain Capital LLC to gauge their interest in a leveraged buyout, Bloomberg reported.

The talks are at an early stage and may not result in a deal, according to people with knowledge of the matter, Bloomberg said. (bloom.bg/1ryKHgr)

CSC Chief Executive Mike Lawrie is arguing that a potential buyout could benefit the company as its turnaround continues, Bloomberg said.

CSC spokesman Richard Adamonis said the company do not comment on market rumors. Blackstone and Bain could not be reached for comment.

Private equity funds view CSC as a potentially cheap buyout based on its enterprise value, though are concerned by its cash flow and slower-growth business units, Bloomberg said. (Reporting By Sai Sachin R)

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