Deals
Activist Investors Throw in Towel as Market Turmoil Rages
- Elliott tenders Altran shares into $4 billion Capgemini offer
- U.K. investor Tchenguiz ‘sorry’ to sell out of Greyhound owner
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Activist shareholders are giving up on some of their campaigns amid historic market volatility.
Elliott Management Corp. dropped its opposition Wednesday to Altran Technologies SA’s $4 billion takeover by Capgemini SE, citing “current market conditions.” The investment firm led by Paul Singer said it will sell its stake in Altran to Capgemini, after arguing for months that the the deal undervalued the French technology consulting firm.