Atos offers to purchase Bull Group's Oceanes related to company buyout

By Susanna Moon

Chicago, May 27 - Atos said it is offering to purchase Bull Group's Oceanes at €5.55 each related to a buyout of the company's shares.

Atos is offering €4.90 per Bull share in cash, which is a 22% premium over the company's closing price of €4.01 on May 23, according to a press release.

The offer price also is a 30% premium to the three-month volume-weighted average share price of €3.77.

The offer values the fully diluted share capital of Bull Group at about €620 million, the filing noted.

The offer is subject to reaching a minimum 50% plus one share of Bull's share capital acceptance, and Atos said it plans to ultimately delist the Bull shares by way of squeeze-out or a subsequent merger between the two companies.

The offer is expected to run in July with settlement set for August.

Atos is an information technology services company based in Paris. Bull, a Paris-based computer company.

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