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Elliott reiterates criticism over Capgemini's offer on Altran

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By Reuters
Elliott reiterates criticism over Capgemini's offer on Altran
FILE PHOTO: The logo of Cap Gemini is seen at the entrance of the company headquarters in Paris, France, February 18, 2016. REUTERS/Charles Platiau   -   Copyright  Charles Platiau(Reuters)

PARIS (Reuters) – Capgemini’s <CAPP.PA> offer for Altran <ALTT.PA> doesn’t reflect Altran’s intrinsic fair value and doesn’t offer an adequate premium for control, activist hedge fund Elliott said on Wednesday.

Altran’s shareholders should consider all facts before deciding whether to endorse such a flawed process and accept an inadequate price for their shares, Elliott also said in a statement.

(Reporting by Sudip Kar-Gupta; writing by Matthieu Protard; editing by Jason Neely)