Merger between Steria and Sopra: Atos has also formulated a takeover offer
Steria and Sopra have expressed an end of inadmissibility to Atos
A new player is entering the business of the two French companies specializing in IT services (SSII) Steria and Sopra, which plan to merge to form a group of 35,000 employees and € 3.1 billion in turnover. business. Atos, the company headed by the former Minister of the Economy under Jacques Chirac, Thierry Breton, has offered a takeover offer on Steria for a price of 22 euros per share.
“Atos confirms having had for several months friendly discussions with Steria, including with the chairman of the supervisory board and the executive manager of the company” explained the company in a press release, claiming to have “sent an offer to the chairman of Steria, April 4, 2014, accompanied by a letter offering Steria the possibility of responding to Atos until April 7, 2014, in order to trigger the issuance of a signed firm offer at 22 euros, in cash, per Steria share “.
“The Chairmen of these two bodies (the supervisory board and the board of directors of its sponsorship Soderi, editor’s note) had brought to the attention of their Board a letter from AtoS including an invitation to enter into discussions to discuss the the possibility of an offer at a price “around” 22 euros “confirms for its part Steria which has shown an end of non-acceptance. “The Steria Board ‘was not in a position to examine (its) offer’” according to Atos.
A French player in IT services, Atos has sales of 8.6 billion euros in more than fifty countries, more than Steria and Sopra combined. On April 9, these two companies formalized their desire for a friendly rapprochement, which should take the form of an OPE (public exchange transaction, editor’s note) of Sopra on Steria shares on the “on the basis of 1 Sopra share for 4 Steria shares ”. Together, the two companies hope to cross the 4 billion euros in turnover and 10% profit margins in a sector that has become increasingly competitive.