Persistent Systems Subsidiary Launches EUR 81/shr Takeover Offer For Nagarro
(RTTNews) - Galaxy Germany Holding SE, a wholly-owned subsidiary of Persistent Systems Limited, announced its intention to launch a voluntary public takeover offer for all outstanding shares of Nagarro SE at a price of 81 euros per share. The all-cash offer represents a premium of approximately 140% compared to Nagarro's undisturbed closing price on June 25, 2026.
Nagarro's Management and Supervisory Board have expressed strong support for the transaction, highlighting their conviction in the strategic merits of the partnership. Persistent has already secured an approximately 21% stake in Nagarro (excluding treasury shares), with the company's largest shareholder committing its entire stake under a binding agreement. In addition, members of Nagarro's Management Board have declared their intention to accept the offer and tender their shares.
The offer will be subject to a minimum acceptance threshold of 50% plus one share of all outstanding Nagarro shares, inclusive of shares acquired under the binding agreement with Lantano and the commitments from Nagarro's Management Board. Persistent expects to launch the offer following approval of the offer document by BaFin, with closing anticipated in fourth quarter of 2026 or the first quarter of 2027, subject to regulatory approvals and customary conditions.
Persistent has clarified that it does not intend to enter into a domination and/or profit and loss transfer agreement (DPLTA) for a period of two years after closing. In alignment with Nagarro's Management Board, Persistent also intends to pursue a delisting of Nagarro shares from the regulated market (Prime Standard) of the Frankfurt Stock Exchange as soon as practicable and legally feasible.
