Altran Technologies announced on Monday the signing of a merger agreement between the group and Capgemini, as part of a friendly bid for the latter, at a price of 14 euros per share. The statement said that the Board, which met on Friday, August 9, unanimously considered that members were present or represented that the offer was "in the interest of the company, its shareholders, its employees and other stakeholders".
Altran states that this offer would be subject to Capgemini acquiring a number of shares representing at least 50.10% of the share capital and voting rights of Capgemini.Altran.
"This step follows the signing of the exclusive negotiation agreement on June 24, 2019, and the funding of the information consultative procedures of staff representatives required within Capgemini and Altran," the statement said. .
Altran has become the world's leading engineering and R&D consulting firm with the acquisition of US $ 1.7 billion at the end of 2017. With this power to strike, the consulting group offers its clients the option of outsourcing some R&D. D projects. The end of this merger is scheduled for the end of the 2019 year.
For the record, computer giant Capgemini announced in late June its intention to buy Altran as part of a friendly offer representing 5.4 billion euros, including debt. Its goal: to bid on the entire value chain, and to take part in the race to digitize industries.
Summarizing the strengths of the two entities, the a new ensemble will boast impressive figures: 250,000 employees and $ 16 billion in revenue in 2018 ($ 13.1 billion in sales in 2018 for IT consulting giant Capgemini, and $ 2.9 billion for the senior engineering consultant).
Elliott asset fund resists
In July, Capgemini was confident of its ability to make a successful bid of around € 5 billion on Altran Technologies at € 14 per share despite the outflow of the active fund. Elliott in his capital.
Elliott, which has acquired stock exchanges in recent weeks, said on July 12 that at this stage it did not intend to offer its Altran shares, which it could then hold. future, marking the first introduction to this operation to strengthen Capgemini both in technology consulting and in the United States.
Elliott, which manages about $ 35 billion worth of assets, is considered one of the most successful funds to activate. Among his recent "goals" are US groups such as eBay, but also French such as Pernod Ricard, Vivendi or Altran.
The press release adds that "Capgemini's incorporation of the offer remains subject to the fulfillment of various customary prerequisites related in particular to the acquisition of regulatory authorizations (such as CFIUS in the United States, and to merger control). by the end of these last steps".