Monday, June 11, 2007

ACS Opens Bidding

Dallas, Texas-based Affiliated Computer Services said late last night that it has reached an agreement to suspend an exclusivity agreement the firm had with Chairman Darwin Deason and Cerberus Capital Management, L.P. The removal of the agreement opens up the company to potential competing bids for the provider of information technology services for corporations. Cerberus and Deason are currently look to acquire ACS for roughly $6.2B; Deason is the founder of ACS. The firm is being advised by Lazard Freres & Co. LLC in the deal.