$95m takeover offer makes RXP Services today's biggest winner

Digital consulting services outlet RXP Services (ASX:RXP) is leading the ASX’s winners list this morning after a $95 million takeover offer.

RXP’s bidder is French listed consulting giant Capgemini (EPA:CAP) which is hoping to use the deal to advance its foray into the Asia Pacific region.

The deal, at 55 cents per share is a 62 per cent premium to yesterday’s closing price. It also includes a special dividend of 5 cents per share.

This morning RXP shares have surged accordingly.

While shares are still below the highs seen in November 2016, today’s spike all but wipes out the losses made during the COVID-19 market crash.

RXP Services (ASX:RXP) share price chart

Outstanding outcome

RXP’s board has unanimously got behind the offer.

“The RXP board believes the offer from Capgemini represents and excellent opportunity for RXP shareholders to realise certain value at a significant premium,” said chairman John Pittard.

“The RXP board has unanimously concluded that the Scheme is an outstanding outcome for all RXP stakeholders: shareholders, employees, clients and other business partners.”

Commenting on behalf of Capgemini was its executive chairman in Asia Pacific and the Middle East Luc-Francois-Salvador. He said the deal made sense as it would consequently making Capegemini a market leader in Australia.

“Both companies share similar values and vision of the role of technology and humanity in successfully transforming businesses and society,” Salvador said.

“Our strengths will enable us to use insights, design and technology to create inclusive and sustainable futures for our clients.”

Shareholders will vote on the deal in February next year with implementation following in March.