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Outsourcing firm Xchanging says in talks over two separate buyout offers

Reuters

(Reuters) - Outsourcing company Xchanging Plc (XCH.L) said on Monday it had over the past few months received two separate takeover proposals from British peer Capita Plc (CPI.L) and U.S.-based private equity firm Apollo Global Management LLC.

Capita's final offer, made on Sept. 24, stood at 160 pence per share in cash, while Apollo had made a 170 pence per share offer, Xchanging said, adding that it had granted both firms due diligence access.

Capita, which runs services including the Ministry of Defence pension scheme, said separately that Xchanging's board had confirmed it would be willing to recommend Capita's final offer.

(Reporting by Esha Vaish in Bengaluru; Editing by Anand Basu)