Airbus has given up on its plans to acquire a 29.9 per cent minority stake in French services giant Atos’ security business.
The company claimed the move does not meet objectives “in the current context and under the current structure”.
According to the Financial Times, Airbus surrendered to pressure from billionaire hedge fund manager, Chris Hohn to pull its bid on Evidian.
Atos’ shares closed down 17 per cent to €10.71 in Paris after the company confirmed that the European plane maker would no longer pursue talks.
Atos had already been approached by French rival, onepoint and British private equity fund ICG both of which were rejected by Atos despite a €4.2 billion bid.
