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Investor Challenges $3.6B Technology Consulting Buyout

Elliott Management is seeking to block Capgemini’s $3.6 billion takeover of Altran Technologies, a French IT consulting firm that offers digital, cloud and engineering services.

Elliott Management is an activist hedge fund. The firm believes Capgemini and Altran are a good business combination, but Elliott Management wants Capgemini to sweeten the buyout offer, Bloomberg reports.

Capgemini announced the Altran acquisition plan in July 2019. At the time the companies disclosed ambitions to:

  • Become a major player in the Indian and Eastern European market;
  • accelerate opportunities in such areas as cloud computing, IoT (Internet of Things), 5G, and artificial intelligence (AI) software; and
  • lead the so-called  ‘Intelligent Industry’ — a term that describes the digital transformation of industrial and tech companies.

Details about Capgemini’s tender offer for Altran shares are here. We’ve reached out to Capgemini and Altran for comment about Elliott Management’s alleged concerns about the M&A deal.

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