Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Capgemini Seizes Control Of Altran Despite Elliott's Overtures

Smartkarma Webinar | Capgemini/Altran Tender Offer

Quiddity Advisors

Event-Driven

After the market closed on Monday 24th June, French-based IT consultancy firm <a href="https://www.smartkarma.com/entities/cap-gemini-sa" target="_blank" data-smartkarma-citation="entities:21411:1" rel="noopener">Capgemini SA (CAP FP)</a> <a href="https://www.capgemini.com/wp-content/uploads/2019/06/Capgemini_-_2019-06-24_-_Capgemini_to_acquire_Altran-.pdf" target="_blank" rel="noopener">announced</a> its plan to acquire smaller domestic rival <a href="https://www.smartkarma.com/entities/altran-technologies-sa" target="_blank" data-smartkarma-citation="entities:21386:1" rel="noopener">Altran Technologies Sa (ALT FP)</a> via a Voluntary Tender Offer for a cash consideration of €14.00/share - restated for a €0.24/share dividend to be detached on the 1 July - valuing the target at an market cap and enterprise value of around €3.6bn and €5.0bn.
The boards of both the acquirer and the target have agreed to the terms. The Offer price translates to a premium of 22% to the undisturbed price. 
A formal Offer is expected to be launched after the information or consultation phase of the respective works councils and customary regulatory approvals.  
While the minimum acceptance threshold has not been announced, pursuant to French takeover requirements, the Offer will require the acceptances from shareholders representing at least 50% of Altran's total shares. 
Capgemini has also signed a definitive agreement to acquire an 11% stake in Altran from a group of investors led by Apax Partners, Altran's largest shareholder. 
This friendly takeover brings scale and value to Capgemini to help bridge the gap to key competitor <a href="https://www.smartkarma.com/entities/accenture-plc-cl-a" target="_blank" data-smartkarma-citation="entities:13468:1" rel="noopener">Accenture Plc Cl A (ACN US)</a>.  Trading at terms to the Offer with an expected deal completion by year-end.

After the market closed on Monday 24th June, French-based IT consultancy firm Capgemini SA (CAP FP) announced its plan to acquire smaller domestic rival Altran Technologies Sa (ALT FP) via a Voluntary Tender Offer for a cash consideration of €14.00/share - restated for a €0.24/share dividend to be detached on the 1 July - valuing the target at an market cap and enterprise value of around €3.6bn and €5.0bn.
The boards of both the acquirer and the target have agreed to the terms. The Offer price translates to a premium of 22% to the undisturbed price. 
A formal Offer is expected to be launched after the information or consultation phase of the respective works councils and customary regulatory approvals.  
While the minimum acceptance threshold has not been announced, pursuant to French takeover requirements, the Offer will require the acceptances from shareholders representing at least 50% of Altran's total shares. 
Capgemini has also signed a definitive agreement to acquire an 11% stake in Altran from a group of investors led by Apax Partners, Altran's largest shareholder. 
This friendly takeover brings scale and value to Capgemini to help bridge the gap to key competitor Accenture Plc Cl A (ACN US).  Trading at terms to the Offer with an expected deal completion by year-end.

Altran Technologies Sa

Capgemini Snaps Up Smaller Rival Altran