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CORPORATE RAIDERS FINALLY GET FOILED: CSC says iSoft deal not in 'best interests' of NPfIT

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Default CORPORATE RAIDERS FINALLY GET FOILED: CSC says iSoft deal not in 'best interests' of NPfIT - 05-31-2007 , 06:43 PM






CSC says iSoft deal not in 'best interests' of NPfIT
30 May 2007

Computer Sciences Corporation, local service provider to three NHS
regions, today said that it has refused to back the IBA takeover of
iSoft in the 'best interests' of the National Programme for IT
(NPfIT).

The LSP, which holds contracts for the North, Midlands and East
regions, confirmed today that it has vetoed the takeover of iSoft by
Australian firm IBA Health.

In a statement CSC said: "CSC is committed to the successful delivery
of the NHS National Programme for IT (NPfIT). CSC's decision not to
consent to the proposed change in control of iSoft has been governed
solely by what it considers is in the best interests of achieving this
goal."

CSC said that it had been working with iSoft to find a suitable buyer,
but discussions with IBA have left them concerned about the impact the
sale would have on the work on NPfIT.

"Discussions and correspondence regarding IBA commenced in January,
and we have continued in active dialogue with the company up to the
present date. During this time, CSC has undertaken due diligence to
assess the impact of the IBA transaction on NPfIT.


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