Anglo-Dutch computer services firm LogicaCMG said today that it had no intention of sweetening its €73 per share takeover offer for French IT services firm Unilog.
When asked at a news conference if the offer was a firm offer, Chief Executive Martin Read answered "yes".
Some analysts have said LogicaCMG's €930.3 million bid was not attractive enough for Unilog's shareholders given the quality of its assets, especially its industry-leading margins and its client roster.
LogicaCMG announced yesterday it had agreed to buy 32.3 percent of Unilog from the firm's founders for €255.4 million in cash and €19.57 million new shares at 178 cent each.
It plans to acquire the remaining 67.7 percent of Unilog in a public offer to shareholders at €73 a share.