Atos board reported to be meeting Sunday to review takeover bids

PARIS (Reuters) – The board of French tech firm Atos was due to meet on Sunday evening to consider takeover offers, including one submitted by Czech businessman Daniel Kretinsky, Les Echos and Le Figaro reported.

Atos, which secures communications for the French army and is set to manage cybersecurity for this summer’s Paris Olympic Games, had given itself until Friday evening to receive refinancing offers.

The struggling firm also received takeover offers led by David Layani, chief executive of OnePoint, Atos’ largest shareholder, and U.S. fund Bain Capital.

These bids would come in addition to the one submitted by creditors who represent about half of Atos’ debt, the newspapers reported on Sunday.

Atos declined to comment.

Atos said on Monday it needed 1.1 billion euros ($1.2 billion) in cash to fund its businesses over the 2024-25 period, compared with 600 million euros in a previous estimate, due to changing market conditions.

Its financial difficulties had led the French state to offer to acquire some of its strategic assets.

($1 = 0.9295 euros)