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Atos to buy Bull for 620 million euros

Staff writer ▼ | May 27, 2014
Atos and Bull together announced the intended public offer in cash by Atos for all the issued and outstanding shares in the capital of Bull.
Bull
BullAtos and Bull together announced the intended public offer in cash by Atos for all the issued and outstanding shares in the capital of Bull.


Atos offer is set at €4.90 per Bull's share in cash, representing a 22% premium over the Bull's closing price (€4.01) on Friday May 23, 2014, the last trading day before this announcement, and a 30% premium with respect to the 3 month volume weighted average share price (€3.77).The offer will also target the outstanding Bull's OCEANEs at €5.55 per OCEANEs.

The offer values the fully diluted share capital of Bull Group at approximately €620 million. The offer is subject to reaching a minimum 50% + 1 share of Bull's share capital acceptance level, and Atos intends to ultimately delist the Bull shares by way of squeeze-out or a subsequent merger between the two companies.

On Sunday May 25, 2014, the Board of Directors of Bull has expressed its full and unanimous support for the transaction and has appointed pursuant to the AMF regulation an independent expert to provide a fairness opinion on the terms of the offer.

The Board of Directors of Atos held on Friday May 23, 2014 also expressed its full and unanimous support for the transaction.

Crescendo Industries and Pothar Investments, representing in aggregate Bull largest shareholder with 24.2% share capital have both committed to tender their shares to the Atos bid.


 

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