Deals
Elliott Builds Stake in Capgemini's Takeover Target Altran
- Three investors say they see Capgemini’s offer as too low
- Activist investor Elliott says it doesn’t plan to tender swaps
Attendees inspect a robotic waiter catering device manufactured by Altran Technologies SA at the Aircraft Interiors Expo in Hamburg, Germany in 2017.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Elliott Management Corp. has built a position in Altran Technologies SA, the French software company that agreed last month to be acquired by Capgemini SE for 3.6 billion euros ($4 billion).
The New York-based hedge fund has bought about 5.1 million equity swaps in Altran through its European subsidiary, Elliott Capital Advisors, according to a regulatory filing on Friday. Elliott doesn’t have any immediate plans to tender the shares that it could acquire via the swaps, it said in the filing.