The oem for the aerospace and security Thales announced on Sunday a counter-offer on the specialist in digital security, Gemalto at a price of 51 euros per share, against € 46 € for the Atos.
The two groups also stipulate in a joint statement that the offer of Thales is recommended by its board of directors, on the contrary, one of the SSII. According to calculations of Reuters, Thales proposes to redeem Gemalto to nearly 4.8 billion euros so that the Company’s proposed $ 4.3 billion.
Gemalto on Wednesday rejected the unsolicited offer of Atos, presented on 28 November and revealed last Monday following a strong rise in the stock of the target session. Thales, who account complete the offer in the second half of 2018, brings a whole series of assurances to allay any fears of Gemalto, as the guarantee not to delete jobs.
To ensure its success, Thales enables Gemalto to terminate their agreement in the event of a new offer that would be made at a price higher than at least 9% and undertakes to align in this case. Thales believes that the transaction will generate in the first year of a relution of the adjusted EPS between 15% and 20%, before taking into account annual synergies, significant in terms of revenue and assessed to 100-150 million euros by 2021 in terms of costs.
Thales states that it will finance the offer by using its available cash and cash equivalents and a bank financing dedicated to an amount of four billion euros. Lazard, Messier Maris & Associés, and societe generale are the financial advisers of Thales and Deutsche Bank and J. P. Morgan to those of Gemalto.