Orange Subsidiary Makes a Bid for Business & Decision SA
June 29 2018 - 3:56AM
Dow Jones News
By Carlo Martuscelli
Orange (ORA.FR) said Friday that its subsidiary Network Related
Services has made a bid for Business & Decision SA (BND.FR) at
a price of 7.93 euros ($9.17) a share.
The French telecommunications company said that the French
Financial Markets Authority has approved the offer, which will
close on July 19. Orange--which holds a 63% stake in Business &
Decision--said that it is looking to buy all outstanding shares of
the consulting and systems-integration company.
The deal values Business & Decisions at around EUR62.5
million based on FactSet data, with the outstanding stake worth
around EUR23.5 million.
Orange said that if at the end of the offer, other shareholders
hold no more than 5% of the capital of Business & Decision, it
will request a squeeze-out at the tender offer price of 7.93 euros
per share.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
June 29, 2018 03:41 ET (07:41 GMT)
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