Management consultancy Butler Cox Plc is to be acquired by Computer Sciences Corp, where it will be merged with CSC Index to form a global consultancy practice. Computer Sciences’ offer of 245 pence per share cash, which values the London consultancy at UKP14.3m, has been unanimously recommended by the company’s board of directors – not surprisingly, since the price is an 87% premium on Friday’s close of 131 pence. The combined Index-Butler Cox group will offer management consultancy, research programmes and educational programmes in the fields of information technology, business process re-engineering and organisational behaviour. El Segundo, California-based Computer Sciences Corp, which has 22,000 employees worldwide and last year reported $65m net profits on turnover of $1,700m, sees Butler Cox as a means of expanding and developing its services in Europe, while the UK consultancy will gain financial security as well as international representation. Computer Sciences has given assurances that Butler Cox staff will do well out of the acquisition and their rights will be protected.
