Atos Origin Rejects Candover Offer

For Erwan: French IT service provider Atos Origin has rejected a €1.6B takeover approach by Candover for its Atos Worldwide unit, which specialises in electronic payment systems.

Since the offered was received, Centaurus Capital has halved its stake in Atos and now controls a combined 16.71% interest along with fellow hedge fund Pardus. Meanwhile PAI Partners has upped its stake to 22.61% and has become the company’s largest individual shareholder. PAI was the founding shareholder of Atos when the company was created through the merger of Axime and Sligos, with the investor holding 100% of the company until its listing. The private equity firm also oversaw Atos’ merger with Origin in October 2000.

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