Exela Gets Preliminary Bid for Unit With $200 Million Revenue >XELA

Dow Jones2022-07-13

By Colin Kellaher

Exela Technologies Inc., which last month said it would explore the sale of assets as a way to raise capital, on Wednesday said it has received a preliminary, non-binding bid for a business unit with roughly $200 million in revenue.

The Irving, Texas, business-process-automation company, which reported revenue of nearly $1.17 billion last year, didn't disclose the identity of the bidder or the unit, but said it would carefully review the proposal, along with other strategic alternatives aimed at enhancing shareholder value.

Exela also said it is in active talks with several other parties about additional acquisition proposals.

Exela in June said it would launch sale processes for several stand-alone assets that it expected to generate proceeds topping $200 million.

Write to Colin Kellaher at colin.kellaher@wsj.com

$(END)$ Dow Jones Newswires

July 13, 2022 09:40 ET (13:40 GMT)

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