January 16, 2020 / 11:17 AM / 7 days ago

Elliott says will not tender its Altran shares to Capgemini's new offer

PARIS, Jan 16 (Reuters) - U.S. activist fund Elliott said on Thursday it would not not tender its Altran shares to French consulting and IT services provider Capgemini’s recently increased offer for the company.

In a filing to French markets regulator AMF, Elliott, which has gradually built a 14% stake in Altran since last summer, also said it might continue buying shares in the company.

Capgemini raised its bid earlier this week, and is now offering Altran shareholders 14.5 euros per each share, compared to 14 euros previously. That is a 128-million-euros increase to the initial 3.6-billion-euro ($4 billion) price tag. (Reporting by Matthias Blamont; Writing by Benoit Van Overstraeten; Editing by Sarah White)

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