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Fujitsu Services Launches Public Tender Offer for GFI Informatique in France
Fujitsu Limited
Tokyo, May 25, 2007
Fujitsu Limited announced that Fujitsu Services, its wholly owned subsidiary based in the U.K., has today filed an offer with the French regulatory body (AMF) to acquire the entire issued share capital of GFI Informatique of France. The filing follows the earlier announcement dated May 2, 2007.
The acquisition of GFI would create a leading IT services business in Europe, integrating the existing strengths of Fujitsu Services with GFI Informatique's strong position established in systems integration business markets in France and Southern Europe. Customers of the two companies would also benefit from further business expansion and growth made possible by the acquisition.
Fujitsu Services intends to purchase GFI Informatique's ordinary shares and warrants respectively at the prices of €8.50 per share, after payment of the proposed €0.20 dividend for fiscal year 2006, and €3.15 per warrant through the tender offer.
Today, Fujitsu Services' public tender offer is the only one proposed to all GFI Informatique's shareholders following the withdrawal of a proposed capital increase offer involving a French company, Itefin Participations, controlled by private equity group Apax Partners, which was announced yesterday by GFI Informatique.
Fujitsu Services has held a number of discussions with Mr. Jacques Tordjman, Chairman and CEO of GFI Informatique, as well as with certain executives and board members in order to explain the attractiveness of the industrial project for the company, its managers, employees and customers, as well as the attractiveness of the offer price for its shareholders and warrant holders.
The prices in Fujitsu Services' offer imply a significant premium of 19.5% over GFI Informatique' s closing share price of €7.11, adjusted for the proposed 2006 dividend of €0.20 per share, and of 21.6% over its adjusted 1 month weighted average price of €6.99, all as of April 27, 2007 (this date being the last day before GFI announced its initial decision to postpone its proposed extraordinary general meeting).
For further information, please see Fujitsu Services' announcement at: http://www.fujitsu.com/uk/
About Fujitsu Services
Fujitsu Services is the European-centered IT services arm of the global Fujitsu Group, providing IT infrastructure management and outsourcing services to customers in over 20 countries. It had net sales of £2,294 million (€3,363 million) for the fiscal year ended 31 March 2006, with about 18,000 employees at the end of this period.
About Fujitsu
Fujitsu is a leading provider of customer-focused IT and communications solutions for the global marketplace. Pace-setting device technologies, highly reliable computing and communications products, and a worldwide corps of systems and services experts uniquely position Fujitsu to deliver comprehensive solutions that create infinite possibilities for its customers' success. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 5.1 trillion yen (US$43.2 billion) for the fiscal year ended March 31, 2007. For more information, please see: www.fujitsu.com
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Company:Fujitsu Limited
Date: 25 May, 2007
City: Tokyo
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