Gemalto takeover
Armaments group Thales comes out on top
The French defense group Thales has prevailed in the takeover battle for the Dutch chip card manufacturer Gemalto with an offer worth almost 5 billion euros. The previous bidder Atos is therefore out of the running.
Gemalto accepted the purchase offer of 51 euros per share and thus decided against the IT service provider Atos, as Thales and Gemalto jointly announced on December 17, 2017.
Gemalto had already rejected the Atos offer of 46 euros per share. Thales offered half a billion euros more at 4.8 billion euros. The merger is intended to create a leading company in cyber security.
Gemalto has 15,000 employees and is primarily known for its products and services relating to bank and other smart cards. Last year, its turnover amounted to 3.1 billion euros. Thales is a diversified defense group with 64,000 employees worldwide and a turnover of 14.9 billion euros last year.
The Thales offer of 51 euros per share corresponds to a premium of 57% compared to the closing price on December 8, 2017, it was reported. Among other things, it is based on a minimum acceptance threshold of 67%. If all conditions are met and the authorities give their approval, the takeover should be completed in the second half of 2018, according to Thales.
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