On Wednesday, technology consulting group Micropole judged Miramar Holding's proposed takeover bid to be "hostile" and that it did not express the company's full value.

In a press release, the data-driven business transformation specialist states that its Board of Directors met last night to discuss the follow-up to the proposed offer.

Its members unanimously considered that the offer was not based on any substantiated industrial project, and categorically rejected the presentation of the company's performance and strategy.

The Board therefore reaffirmed its confidence in the Group's strategy, and decided to explore alternative solutions 'in the best interests of all stakeholders'.

Micropole says it is already in discussions with investors.

The Board also denounces the 'destabilization' generated by this unfriendly offer, and the numerous direct solicitations made by Sebastian Lombardo, Miramar's Chairman, to employees via LinkedIn.

While this announcement does not come as a total surprise, it does signal the upcoming stock market battle to take control of Micropole", reacted analysts at Invest Securities this morning.

Sebastian Lombardo was Chairman of French IT services company Valtech for over 10 years.

After surging by more than 45% yesterday, Micropole's shares on the Paris Bourse were slowing down, gaining just 1.3% in early trading on Wednesday.

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