Teleperformance launches 3 bln euro offer for Majorel, shares fall 14% (updated)

Bertelsmann SE & Co KGaA

26/04/2023 09:00

(Adds context, details)
       April 26 (Reuters) - 
    Shares in Teleperformance  TEPRF.PA  dropped over 14% in
early Wednesday trade after the French outsourcing and call
centre group said it intends to buy rival Majorel  MAJ.AS  for 3
billion euros ($3.3 billion).
    Shares in the Luxembourg-based call centre were up about 40%
as the stock adjusted to the offer.
    The merger would create a digital business with annual
revenues of about 12 billion dollars and operations in the
Americas, Europe, India, Asia-Pacific, Middle East and Africa,
Teleperformance said in a statement.
        "Thanks to the complementary capabilities of our two
groups, clients will benefit from a unified leading,
high-quality force operating in all the key markets around the
world," the group's chief executive Daniel Julien said.
  
        The announcement follows a 
    $4.8 billion merger deal
     between U.S.-based competitor Concentrix Corp  CNXC.O  and
French firm Webhelp in March.
  
    Majority shareholders in Majorel, Bertelsmann  BTGGg.F  and
Saham, have irrevocably committed to tender their shares,
Teleperformance said in a statement.
    Teleperformance is offering 30 euros per Majorel share, with
an option for the latter's shareholders to receive
Teleperformance shares at an exchange ratio of 0.1382. 


($1 = 0.9086 euros)

 (Reporting by Alessandro Parodi,  and Piotr Lipinski in Gdansk,
Editing by Louise Heavens
Editing by David Goodman)
 ((piotr.lipinski@thomsonreuters.com; Gdansk Newsroom: +48 58
769 66 00;))