Shares in sim card maker Gemalto surged by over 30% on Tuesday as the company was targeted by rival Atos.
Atos unveiled an all-cash offer for Gemalto, valuing the Netherlands-based company at around €4.3bn, a 42% premium to Gemalto´s closing price on December 8.
Gemalto said it would review the offer from Atos and make a response prior to 15 December.
“There is no certainty that the proposal will lead to a recommended firm offer for the company,” said Gemalto in a statement.
However, France-based Atos claimed it already had the support of French state-sponsored investment fund BPI, which currently has an 8.3% stake in Gemalto.
Gemalto shares were up by 32.4% as at 0911 GMT.