- Title: Thales' 4.8 bln-euro bid for Gemalto gets thumbs up from investors
- Date: 18th December 2017
- Summary: LA DEFENSE, FRANCE (DECEMBER 18, 2017) (REUTERS) VARIOUS OF CHIPS ON CARDS LA DEFENSE, FRANCE (DECEMBER 18, 2017) (REUTERS) (SOUNDBITE) (French) AEROSPACE AND DEFENCE GROUP THALES CHAIRMAN AND CEO, PATRICE CAINE, SAYING: "In any case being strict regarding the money is necessary with or without a merger. So on this point too there's no cause for concern. As far as Thales i
- Embargoed: 1st January 2018 13:30
- Keywords: Thales Gemalto companies digital merger SIM chipmaker
- Location: PARIS AND LA DEFENSE, FRANCE
- City: PARIS AND LA DEFENSE, FRANCE
- Country: France
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA0037CFZ7LZ
- Aspect Ratio: 16:9
- Story Text: Shares in defence group Thales rose on Monday (December 18) after chipmaker Gemalto accepted the French company's 4.8 billion euro ($5.66 billion) takeover bid to create a leader in digital security.
Thales' chief executive Patrice Caine made his move just days after Gemalto had knocked back a 4.3 billion euro offer from French rival Atos.
At a news conference at Thales' headquarters on Monday, Caine said he believed this merger represented a "powerful industrial project".
Thales shares surged 7.81 percent to 93 euros at 0952 GMT, while Amsterdam-listed Gemalto's shares were up 5.47 percent at 49.38 euros, just below Thales' 51 euro per share basic offer.
The planned merger highlights the increasingly blurred lines between industrial and software companies as they try to grab a share of the fast-growing digital security market.
Under the deal, unanimously recommended by the boards of both companies, Thales will merge its digital assets with Gemalto to create a business headed by Gemalto CEO Philippe Vallee. - Copyright Holder: REUTERS
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