Elliott Shares Concerns on Capgemini’s Offer for Altran
PARIS & LONDON--(BUSINESS WIRE)--Nov 27, 2019--
Funds advised by Elliott Advisors (UK) Limited (together “Elliott”), that collectively hold an economic interest in Altran Technologies SA (“Altran” or the “Company”) of over 10%, today published a presentation outlining its concerns with Capgemini SE’s (“Capgemini”) offer for Altran (“the Offer”).
The presentation includes the following key takeaways:
Elliott shares Altran management’s view on the attractiveness of Altran as a standalone entity, and the tremendous value creation that would accrue from a combination with Capgemini. Unfortunately, Elliott believes the Offer price for Altran shareholders is too low. The widespread scepticism on the level of the Offer from the first day of its announcement has only been compounded by revelations on the failings of the Altran Board in recommending this Offer. Altran shareholders should consider all the facts before deciding whether to endorse such a flawed process, and accept an inadequate price for their shares.
Elliott has previously written to the CEOs and Boards of both Altran and Capgemini to express its views, and has now decided to share its analysis publicly.
Elliott’s presentation, along with additional analysis and perspectives are available to view and download today at www.FairValueforAltran.com. Interested parties are encouraged to visit the website to receive additional information.
Elliott Management Corporation manages two multi-strategy investment funds which combined have approximately $38.2 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Management Corporation.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191126005959/en/
Sarah Rajani CFA
Elliott Advisors (UK) Limited
+44 (0) 20 3009 1475
Daphné Claude / Dominic Riding
Steele & Holt
+33 (0) 6 66 58 81 92 / +33 (0) 6 48 57 83 24
KEYWORD: UNITED KINGDOM EUROPE
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SOURCE: Elliott Advisors (UK) Limited
Copyright Business Wire 2019.
PUB: 11/27/2019 02:30 AM/DISC: 11/27/2019 02:30 AM