Capita wins Xchanging race as Apollo withdraws

Private equity house Apollo has pulled out of the race with
trade buyer Capita to buy insurance outsourcer and software group
Xchanging plc.In a London stock exchange announcement this morning Xchanging
said that Apollo had said that it was no longer interested in
potentially making an offer for the firm, which it had earlier
indicated at the 170 pence per share level.The withdrawal of Apollo means that unless a new bidder emerges,
larger London-quoted quoted outsourcing specialist Capita...