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Gemalto soundly rejects Atos bid

2017-12-13 23:05:00| Telecompaper Headlines

(Telecompaper) Gemalto has soundly rejected the EUR 4.3 billion takeover bid from Atos, saying it is best positioned to grow successfully and create long term value on a standalone basis. Gemalto said the bid undervalues the company's past share price averages and its future potential as it successfully transitions from traditional banking and telecom smartcard markets to fast-growing government, enterprise & cybersecurity and machine-to-machine markets. The bid price also doesn't reflect the potential synergies that would come from a combination with Atos, which Atos itself believes to be substantial. Gemalto CEO Philippe Vallee said that as it nears transition end, the company will be presenting a new "ambitious and substantial" development plan that will focus on the next generation of digital security for companies, governments and citizens worldwide.

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