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".

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