On November 27, 2019, Elliott Advisors (UK) Limited announced that it has published a presentation outlining its concerns with Capgemini SE’s offer for Altran Technologies SA. Elliott expressed its views that the offer price reflects neither Company’s intrinsic fair value, nor an adequate premium for control. Elliott expressed its views that the offer price for the Company shareholders is too low. The widespread scepticism on the level of the Offer from the first day of its announcement has only been compounded by revelations on the failings of the Company Board in recommending this offer. In addition, Elliot stated that shareholders should consider all the facts before deciding whether to endorse such a flawed process, and accept an inadequate price for their shares.