skyrocketed again Tuesday on reports that a takeover of the company would garner a 25% premium to the stock price.
Computer Sciences shares were recently trading at $58.66, up $7.41, or 14.5%, on volume that was more than three times as large as the daily average volume in the last three months. That climb builds on big gains a week ago after news of a potential buyout first broke.
The run Tuesday came after
The Wall Street Journal
and three private equity firms are considering a purchase price of $64 to $65 a share for El Segundo, Calif.-based Computer Sciences, an IT services and outsourcing firm with 78,000 employees.
That price represents a premium of about 25% on the closing share price Monday of $51.25.
has reported that Lockheed Martin is interested in CSC's government business, which accounts for about one-third of sales, and that three private equity firms -- Texas Pacific Group, Warburg Pincus, and Blackstone Group -- have their eyes on the company's corporate business.