Worldwide

Gemalto shares rise 30% on takeover bid

Gemalto shares rise 30% on takeover bid”

Gemalto said it has received an unsolicited takeover bid from Atos worth Euro 46 per share in cash, which it will carefully review and consider. Positioned as a "friendly" buyout offer, Atos says the proposed Gemalto buyout addresses opportunities in cybersecurity, homeland security, Internet of Things (IoT) and payment solutions.

Atos on December 11 offered to buy Netherlands-listed Gemalto for 46 euros per share in cash, valuing the world's largest maker of chips for mobile phones and credit cards at around 4.3 billion euros. Law firm Allen & Overy acts as its legal advisor.

Now, Atos has made a decision to disclose its offer, saying it wanted to reiterate its "friendly intentions" - a move that could force Gemalto's board to act on the proposed offer sooner rather than later.

The French technology-services group said the offer represented a 42 percent premium to Gemalto's last "unaffected" closing price on December 8.

Gemalto, which has issued three profit warnings in the past six months, is considering the offer.

If pushed through, the merger would create a leading end-to-end European payment services provider; fully EUR1 billion of Gemalto's revenues stem from its bank card and payments business.

Atos indicated that if the deal goes ahead, it would want to retain Gemalto's "talents" within the combined group, potentially extending to the company's local workforce. "In addition, Atos comes forward with a long track-record of successfully integrating management teams, employees and businesses".



Like this

loading...
loading...

Latest


29 March 2018
Max Polyakov: The Knowledge Economy and its Opportunities for Businesses
Knowledge should be the fundamental aspect of any production process, as well as it should be used in every technological process. Furthermore, the USA accounts for more than a quarter of the world economy (24.8%); the cash equivalent is about 18 trillion USD.

15 March 2018
Server Requirements for Mass Mailing
The first means that the error occurred on the receiving side: maybe the client's account was blocked, or something else happened. Running your own email server may sound like a science fiction, and it may seem that it’s impossible to handle such thing.

12 December 2017
Sturridge considering move overseas
Liverpool striker Daniel Sturridge is so desperate for game time he is open to a move overseas in January. The fact is he is no longer essential to Klopp's Liverpool side and arguably expendable.

12 December 2017
Matt Barnes Announces Retirement From NBA
Barnes appeared in 32 games (20 regular season, 12 playoffs) with the Warriors, who gave him a championship ring on November 27. Barnes played four years at UCLA before he was selected by Memphis in the second round of the 2002 draft.

12 December 2017
Cheniere Energy Incorporated (NYSEAMERICAN:LNG)'s Stock Is Buy After Less Market Selling
It fall, as 72 investors sold Medtronic plc shares while 449 reduced holdings. 74 funds opened positions while 311 raised stakes. Medtronic plc manufactures and sells device medical therapies to hospitals, physicians, clinicians, and patients worldwide.

12 December 2017
Varun Dhawan share his new movie poster on twitter
Varun recently wrapped the shoot of Shoojit directorial, which he claims to be one of his most challenging roles so far. And I am really looking forward to work with Varun and the team of Maneesh and Sharat.

12 December 2017
Police Arrested a Teenager from Houston, Supporter of "Islamic State"
According to prosecutors, the detainee made two unsuccessful attempts to go to Syria. Damlarkaya faces the possibility of a 20-year maximum prison term if found guilty.

12 December 2017
New Black Panther Japanese Trailer Released
Outside of those few quick shots, most of the footage came from the previously-released second trailer . However, T'Challa soon finds that he is challenged for the throne from factions within his own country.

12 December 2017
Intel announces new Pentium and Celeron chips with gigabit Wi-Fi
The chips also offer Gigabit Wi-Fi with 160MHz 2x2 802.11AC connectivity for faster streaming of media and web browsing. This new Pentium Silver and Celeron chips, in comparison, will focus on delivering "connectivity at fantastic value".

13 September 2017
Top Bookmakers Name Odds-On Favourites for 2017-2018 NBA Championship Success
As a result, the Warriors won the championship for a fifth time, taking back the title that they last won as recently as 2015. The two teams have met in the final for three consecutive years, with the Cavs picking up the title just once, in 2016.