Computer Sciences Spins Off into 2 Separate Companies

Dow Jones Newswires


Computer Sciences Corp. begins trading as two separate companies Monday after the spinoff of its public-sector company as CSRA Inc.

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Computer Sciences said in May that it would separate its faster-growing government business from its commercial operations. The company had been under pressure from activist investor Jana Partners LLC, which had talked to CSC about strategic alternatives.

CSRA, which will trade under ticker symbol "CSRA," is a product of the spinoff of CSC's government-related business and the acquisition of SRA International Inc. CSRA was added to the S&P 500 after the close of trading on Nov. 27, replacing Computer Sciences, which trades under "CSC." Following the spinoff, Computer Sciences will replace Apollo Education Group Inc. in the S&P MidCap 400.

Jana has recently decreased its holding in Computer Sciences holdings to 5.7 million shares, or 4.1%, by selling 1.6 million of its shares between Oct. 13 and Nov. 20, citing "regular portfolio management activities" and saying it remains "highly supportive of the recent steps" taken by the board of directors and management, including the decision to split into two businesses.

Write to Anne Steele at