UPDATED: Altran’s Share Trading Close to Capgemini’s Offer
Despite regular announcements that Elliott has increased its long positions on Altran’s shares, Altran’s share has been trading in the range of €14.08-14.20, close to Capgemini’s €14 offer. And since the announcement of the take-over, Altran’s share has not gone beyond €14.78.
Elliott now has long positions representing 12% of Altran’s capital, which is significant. Still, financial markets do not expect Capgemini to increase its price per share, something that Paul Hermelin, CEO of Capgemini, has ruled out several times.
Wednesday, December 4, will be a crucial day for the Capgemini offer: the Paris court will indicate the markets whether Capgemini’s public offering for Altran’s share is suspended or can go ahead. We will report on the court’s decision and how it impacts Capgemini tomorrow.
UPDATE: The Paris Appeal Court will decide on December 18, if its suspends Capgemini’s offering. Stay tuned!