Gemalto NV said Dec. 13 that it has rejected Atos SE's €4.3 billion acquisition proposal.
Gemalto said that, after review, Atos' offer does not "provide a compelling strategy," "significantly undervalues the company" and "fails to adequately address" its stakeholders' interests.
Gemalto is "best positioned to grow successfully on a stand-alone basis," the company added.
Atos confirmed Dec. 13 that Gemalto had declined its €46-per-share all-cash offer, which it said "reflects fully the fair value of Gemalto" and "has received strong support from the financial markets, investors and the analyst community." The offer covered all of Gemalto's issued and outstanding shares.
Atos said it is prepared to enter into discussions with Gemalto's board.
