Airbus Pulls out of Talks for Stake in Atos's Cyber Business Evidian -- Update
March 29 2023 - 06:08AM
Dow Jones News
By Mauro Orru
Airbus SE will no longer pursue discussions to acquire a
minority stake in Atos SE's cyber business Evidian, saying a deal
under the current structure wouldn't be in its interest.
A spokesman for the European plane maker confirmed the decision
in a statement to The Wall Street Journal on Wednesday, saying the
group wasn't interested in buying a 29.9% stake in Evidian.
"However, Airbus and Atos continue to discuss other potential
options and pursue the work on the long-term strategic and
technological partnership between Airbus and Evidian, which has the
potential to create significant value for both companies," the
spokesman said.
Atos said it took note of Airbus's decision.
French news channel BFMTV reported earlier Wednesday that Airbus
was unsatisfied with the price and the structure of a potential
deal.
Airbus had made an offer to buy a minority stake in Evidian last
month, though the companies didn't disclose financial details. Last
year, Atos rejected a letter of intent from French
information-technology consultancy firm Onepoint for the potential
acquisition of Evidian based on an enterprise value of 4.2 billion
euros ($4.56 billion).
At 0920 GMT, Atos shares traded 16% lower at EUR10.80.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
March 29, 2023 05:53 ET (09:53 GMT)
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