Elliott does not intend to tender Altran shares in Capgemini bid: AMF filing
PARIS U.S. activist fund Elliott does not intend to tender shares it could end up owning in consultancy group Altran Technologies (PA:ALTT), the target of a takeover bid by Capgemini (PA:CAPP), according to a regulatory filing on Friday.
Consultancy firm Capgemini agreed to buy smaller rival Altran for 3.6 billion euros last month o tap into the fast-growing engineering outsourcing services market.
Elliott has bought millions of equity derivatives, according to a filing with French markets watchdog AMF, but does not directly own shares in Altran yet.
"Their intention so far, based on their analysis of the information currently available, is not to tender the shares to the offer Altran Technologies that they may acquire in the future," the AMF filing read.
Elliott could change its mind any time depending on the evolution of the information currently available, according to the filing.