Orange Business Services SAS made an offer to acquire the remaining shares of Business & Decision SA (ENXTPA:BND) for €4 million on February 12, 2020. Orange Business & Decision has shown its intention to acquire the remaining shares at a price of €7.93 per share. Transaction will be financed by financing subscribed by the Orange Business Services to Orange SA. The buyout offer will be followed with a squeeze out offer for the remaining shares of Business & Decision. The squeeze out is subject to the approval of the French financial markets authority (AMF). Offer period will start from April 30, 2020 and will expire on May 14, 2020. On May 28, 2020, Orange Business Services launched a mandatory public buyout offer for all the shares of Business & Decision not yet held by the Group, representing 6.38% of the capital. Portzamparc Societe De Bourse S.A. acted as a financial advisor to Orange Business Services SAS. Orange Business Services SAS completed the acquisition of the remaining shares of Business & Decision SA (ENXTPA:BND) on July 8, 2020. Business & Decision was delisted on July 13, 2020.