France’s Atos Rejects Bid Interest Valued at $4B

French technology consultancy company Atos, whose shares have slumped on scepticism over its restructuring plan, said on Thursday it had rejected expressions of interest in its Evidian unit from rival onepoint and UK private equity fund ICG.

Atos said onepoint and ICG had sent an unsolicited letter of intent related to the potential acquisition of the Evidian business for an indicative enterprise value of 4.2 billion euros ($4.1 billion).

“Following the thorough examination of this preliminary and non-binding mark of interest, and upon the recommendation of its ad hoc committee, the board of directors has convened and unanimously concluded that it is not in the interest of the company and its stakeholders,” Atos said. “The board of directors has therefore decided not to proceed.”

David Layani, the founder of onepoint, urged Atos to reconsider. He told reporters that a combination of one point with Atos would create a new French technology champion, and said onepoint’s overtures to Atos were “friendly”.

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