The Dutch financial services company Intertrust agreed on the acquisition of CSC worth 1.8 billion Euros, as announced by the two companies.
The offer values Intertrust at 20 euros per share, which is a premium of 59% compared to November 11, when it announced another possible offer from the private equity company, CVC Capital Partners.
However, the British CVC withdrew its offer of 18 euros per share, last week.
The move was followed by a statement from Intertrust, which states that multiple companies had expressed interest in buying the business, with offers reaching up to 22 euros per share.
Intertrust shares jumped 69% when CVC’s interest was initially announced, and closed higher by 45% on Friday.
Analysts for their part point out that the overall offer is relatively cheap, and that a proposal at 22 euros would make economic sense.
However, the CEO told reporters that the company that had submitted the highest potential bid was not able to provide details on the financing of the deal.
“We conducted a fair and thorough process. CSC represented the best proposal for the company,” said the CEO.
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Source From: Capital
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