If he liked it at $63

If any company belongs in private hands, it’s Affiliated Computer Services. Annual shareholder returns over the past five years have been a measly 1%. All the while its executives have enjoyed generous perquisites at shareholder expense. So it will take great willpower for investors to resist the $5.9bn that chairman Darwin Deason and buyout shop Cerberus are dangling before them - but resist they must. The $59.25 a share offer is insufficient in many respects. ACS’s peers currently trade at ar...