Atos Origin shares surge on takeover report

0 Comments | AFP, October, 2006

PARIS (AFP) — The price of shares in French IT consultancy giant Atos Origin leapt on a press report that the company might be acquired by US investment fund Blackstone in a multi-billion-euro (dollar) deal, traders said. The report in the British daily newspaper City A.M. said that Atos and Blackstone were in talks on a sale valuing Atos Origin at 3.4-3.6 billion euros (4.3-4.5 billion dollars).

Atos said later in a statement that while it had had "contacts" with other companies or investment funds, no acquisition agreement had been reached. The press report said talks had begun four weeks ago and had been based on a bid premium, before the latest price rise, of 35-40 percent, equivalent to 51-54 euros per share. Atos Origin shares closed on Thursday with a gain of 10.36...