Atos Proposes to Acquire Gemalto for EUR 4.3 Billion; Portfolio Overlap Makes Sense
Avid acquirer Atos announced that it had made a formal proposal to acquire Gemalto in an all-cash deal valuing the firm at EUR 4.3 billion. The offer, which values Gemalto shares at EUR 46.0 (a 42% premium to Gemalto’s closing price on Dec. 8, 2017), is expected to be entirely financed with Atos’ existing cash and fully committed external debt. We believe the offer price isn’t excessive and since Gemalto’s share price has fallen roughly 38% in the last year (before the proposal was made), Atos i...Atos is an international information technology services company operating in 52 countries. Co.'s customers are sectors like Public Sector and Utilities, Telecoms and Media, Financial Services, Process Industries and Discrete Manufacturing and Consumer Products and Retail. Co. operates in seven geographical segments: Germany; France; Benelux and The Nordics; U.K. and Ireland; Atos Worldline; Central & Eastern Europe; North America; Iberia; and Other Countries. Co. delivers IT services through the following five segments: Managed Services, Systems Integration, Consulting, Worldline: ePayment Services, and Cloud & Enterprise Software.
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