As previously reported, CSC (NYSE: CSC) and the U.K. National Health Service (NHS) have been in discussions on the way forward to redefining the contractual relationship between CSC and the NHS. As a result of these discussions, CSC and the NHS entered into a non-binding letter of intent on March 2, 2012.
The parties intended to conclude a binding interim agreement by March 31, 2012. Progress continues; however, discussions on the interim agreement have not yet concluded and are still ongoing at this time. The previously disclosed Lorenzo-related standstill agreement remains in effect through June 1, 2012.
There can be no assurance that CSC and the NHS will enter into the interim agreement.
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About CSC
CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 98,000 employees and reported revenue of $16.0 billion for the 12 months ended December 30, 2011.