Atos has edged closer to clinching its deal to acquire Bull today after filing a draft public offer with French authorities for the services firm.
At the end of last month, the duo's respective directors gave the €620m (£501.5m) deal the go-ahead in the hope of catapulting Atos to the top of the European cloud services industry.
Today Atos announced it had filed a draft public offer with French finance authority Autorité des Marchés Financiers (AMF), targeting all Bull's outstanding shares and instruments.
Bull investors Crescendo Industries and Pothar Investments have both agreed to tender all their shares to the offer. The Orange group and the Banque Publique d'Investissement (BPI) – which respectively own eight per cent and 3.26 per cent of the firm – have also expressed their support for the transaction and said they would tender their shares as well.
Atos, which is based in the Paris area not far from Bull's HQ, is offering €4.90 in cash per share for Bull – a 30 per cent premium on the company's three-month average share price and 22 per cent higher than the €4.01 price shares closed at on the day Atos made its play for the firm.
Atos was optimistic for its future once the deal closes.
"As part of Atos' ‘2016 Ambition' three-year plan, this combination will enhance Atos' major position in cloud services in Europe, anchor its leadership in managed services and systems integration," it said.
"Complementary technologies will further increase Atos' businesses impact and the relevance of its disruptive and innovative offerings."
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