January 16, 2020 / 11:35 AM / 12 days ago

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

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

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

The activist fund now holds a 15.46% stake in Altran with 15.41% of voting rights, AMF said in a separate filing on Thursday.

Capgemini raised its bid earlier this week, and is now offering Altran shareholders 14.5 euros per share compared to 14 euros previously, 128 million euros above the initial 3.6-billion euro ($4 billion) price tag.

Reporting by Matthias Blamont and Matthieu Protard; Writing by Benoit Van Overstraeten; Editing by Sarah White

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