Fujitsu swoops on GFI Informatique
But does GFI want to be bought?
Fujitsu Services wants to buy GFI Informatique, the French reseller which wants to be bought by the private equity group Apax. So it is bypassing GFI's reseller's board to appeal directly to the company's shareholders.
Yesterday, it confirmed its intention to launch a counter-offer for the company at a price of €8.50 per share and €3.15 per warrant, a premium of 19.6 per cent over GFI Informatique’s closing share price of €7.11. According to Fujitsu, the deal, which values GFI at €420m, would also be a "significant premium" on Apax's offer.
The company said it approached GFI boss Jacques Tordjman to discuss its offer on 26 April 2007 and is "continuing those discussions".
David Courtley, chief executive of Fujitsu Services said: "It has been our declared intention to grow the size of our business in continental Europe. The combination of Fujitsu Services and GFI Informatique would enable us to do this and provide both companies’ customers with a greater range of services."
In December, the company bought TDS, a German reseller, which booked revenues of €93m in 2005. ®