UXC finishes exclusive diligence without a sale

UXC finishes exclusive diligence without a sale

TOPICS: Tech Industry

UXC has come out of an exclusive due diligence period entered so a possible bidder could take a look at its books. The exclusive due diligence period has ended without a successful bid, but other parties have now also entered the fray, so UXC may yet go under the hammer.

Strategic review update

On 2 July 2010, the Board of UXC advised that it had entered into a period of exclusive due diligence with an interested party, and further advised that this may or may not lead to a full bid for the company.

via www.asx.com.au

Topic: Tech Industry

Suzanne Tindal

About Suzanne Tindal

Suzanne Tindal cut her teeth at ZDNet.com.au as the site's telecommunications reporter, a role that saw her break some of the biggest stories associated with the National Broadband Network process. She then turned her attention to all matters in government and corporate ICT circles. Now she's taking on the whole gamut as news editor for the site.

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  • Would that be because during the due diligence the potential buyer found that there were holes everywhere in the accounts, suppliers were not getting paid, revenues were inflated and that the quality of IT projects delivered and customer satisfaction was extremely low? When will Australian IT providers start working for their clients rather than trying to rape them for money?
  • Rape them for money? Have a look at Accenture or IBM's rates. They are far worse than any Australian consultancy and the quality of their work is no better.