UPDATE 1-Consulting firm Capgemini to buy Altran for 3.6 bln euros [Reuters]
CAPGEMINI SE UNSP/ADR (CGEMY)
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Source: Reuters
Consulting firm Capgemini to buy Altran for 3.6 billion euros - Reuters 3 Min Read PARIS (Reuters) - French business consultancy firm Capgemini on Monday said it agreed to buy engineering and digital services company Altran for 3.6 billion euros ($4.10 billion)to tap into the fast-growing engineering outsourcing services market. With the acquisition, Capgemini said it hoped to respond to demand from its customers — companies in industries ranging from telecom to aerospace — to outsource engineers as well as research and development teams. Capgemini said it would offer 14 euros per Altran share in cash, representing a 22% premium over Altran’s Monday closing price of 11.47 euros. The deal is expected to be completed by the end of 2019. Capgemini said it would pay 3.6 billion euros in cash and would assume Altran’s net debt of 1.4 billion euros. The tender offer will be launched once regulatory approvals are secured. Capgemini also expects to achieve cost reduction of 70-100 million eur
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