The French financial market authority, Autorité des marchés financiers (AMF) announced on Wednesday that 110,571,163 Altran shares have been tendered in connection with the final reopening of the friendly tender offer of Capgemini for Altran Technologies.
Upon settlement and delivery of this reopening, scheduled on April 8, 2020, Capgemini will hold 98.15% of Altran’s share capital and at least 98.03% of Altran’s voting rights, as per a statement from Capgemini. The company will request the AMF to implement the squeeze-out procedure in order to obtain the transfer of all the Altran shares not tendered to the offer, in accordance with the terms of its tender offer and on the same financial terms (i.e., €14.50 per Altran share), it says.
It may be recalled that Capgemini had announced its plan to acquire Paris-based engineering consulting firm Altran Technologies for $4.1 billion (€3.6 billion) last year. The acquisition is expected to offer Capgemini a lead position with full stack of capabilities across research and development (R&D) strategy, digital design, product engineering, manufacturing services, software development and integration.
Post acquisition, Capgemini will have combined employee strength of 2,70,000 globally. Altran has 50,000 employees of which 15,000 are in India.
Paul Hermelin, Chairman and Chief Executive Officer of the Capgemini Group and his successor Aiman Ezzat in a joint statement said: “We are satisfied with the outcome of this friendly tender offer, whose success allows us to hold more than 98% of the share capital, giving us access to all the value creation levers. We would like to thank all the Altran shareholders who tendered their shares, thus validating the soundness of our strategy and the industrial project we are proposing. Once again, we would like to welcome the 50,000 Altran employees with whom we will be working in order to begin the integration process and to implement synergies.”
Altran’s financial results will be consolidated in the Capgemini Group’s financial statements as from April 1, 2020 and the Group will communicate on the perspectives for 2020 when it publishes the revenues for the first half of 2020, as per Capgemini.
