PARIS, FRANCE: Teleperformance, a global leader in digital business services, has announced its proposed voluntary cash and share offer for all shares in Majorel, valued at €3bn.
The offer is €30 per share for cash consideration or the option to receive Teleperformance shares at an exchange ratio of 0.1382 Teleperformance share for each Majorel share, up to a maximum of €1bn in Teleperformance shares.
Majority shareholders in Majorel, Bertelsmann and Saham Customer Relationship Investments Limited, have already irrevocably committed to tender their shares in Majorel and will elect to receive Teleperformance shares instead of cash, with the total number of Teleperformance shares depending on the election of other shareholders.
Teleperformance’s ‘Cube’ strategy, which is building adjacent lines of businesses, creating deeper industry domain expertise, and scaling up complementary geographies, is in line with this transaction. The Teleperformance-Majorel combination creates an approximately US$12bn revenue digital business services leader with a strong presence in all major economies of the world.
The transaction is expected to bring significant synergies expected in the range of €100-150m, through higher efficiencies, increased scale, enhanced potential for new product development, and sharing of best practices.
Teleperformance expects its BBB rating to remain unchanged, allowing it to remain proactive on future acquisition opportunities, while achieving Teleperformance’s 2025 objective of €10bn in revenues 2 years in advance.
The management board and the supervisory board of Majorel have welcomed the offer and consider it to be in the best interest of the Company, its shareholders, employees, and other stakeholders. Daniel Julien, Chairman and CEO of Teleperformance, said, “Majorel and Teleperformance’s consolidation constitutes a strong promise for all stakeholders invested in the global digital business services market.”
Meanwhile, Thomas Mackenbrock, CEO of Majorel, said that the combination of the two companies would “provide many opportunities for all stakeholders.” The transaction is expected to be a win-win deal for the shareholders of both groups.
Sonic Healthcare acquires Medical Laboratories Duesseldorf for €180 million