Gemalto to delist from Amsterdam and Paris exchanges as Thales buys out remaining shares
Gemalto will be delisted from the Euronext Amsterdam and Euronext Paris stock exchanges shortly after the company’s annual general meeting on May 28, 2019, as part of its merger with Thales.
Thales picked up an additional 10,742,274 shares, or 11.51 percent of the company, during the now-completed post-closing acceptance period of the merger. The shares were sold for an aggregate value of €548 million, or €51 per share. This brings Thales total stake to 97.02 percent, and having crossed the 95 percent threshold, it will pursue a compulsory acquisition procedure and/or takeover buyout procedure to acquire shares not held by Thales or Gemalto, according to the announcement.
The companies also issued the obligatory warning that the liquidity and market value of any shares not tendered could be adversely affected.
With the €4.8 billion initial acquisition price, the post-closing share sale seems to bring the total purchase by Thales to nearly €5.35 billion, with the total market value of Gemalto higher by the outstanding three percent of shares.