Keysight Technologies, Inc. (NYSE:KEYS) made a binding offer to acquire 50.6% stake in ESI Group SA (ENXTPA:ESI) from group of shareholders for approximately ?480 million on June 28, 2023. As of September 22, 2023, Keysight Technologies, Inc. (NYSE:KEYS) signed a definitive agreement to acquire 50.6% stake in ESI Group SA (ENXTPA:ESI) from group of shareholders. The offer per share is ?155. Keysight will finance the transaction from a combination of cash and cash equivalents on its balance sheet. For the purposes of the Offer, the board of directors of ESI Group established an ad hoc committee, comprising Alex Davern, Cristel de Rouvray, Yves de Balmann and Patrice Soudan. Transaction is subject to the signing of definitive agreements, and regulatory approvals. As of September 22, 2023, the transaction is expected to be completed in the fourth quarter of 2023, subject to obtaining the necessary regulatory approvals. This would be followed by the filing of the tender offer.

J.P. Morgan Securities LLC acted as a financial advisor, Paul Hastings LLP acted as a legal advisor to Keysight. McDermott Will & Emery LLP acted as a legal advisor, Rothschild & Co SCA (ENXTPA:ROTH), and Evercore Group L.L.C. acted as financial advisors to ESI Group. King & Spalding International LLP is acting as a legal advisor to Amy-Sheldon Loriot de Rouvray, Cristel Loriot de Rouvray, John Alexandre Loriot de Rouvray, and Amy Louise Loriot de Rouvray.

Keysight Technologies, Inc. (NYSE:KEYS) completed the acquisition of 50.6% stake in ESI Group SA (ENXTPA:ESI) from group of shareholders on November 3, 2023. As a part of closing, Keysight Technologies also confirms its intention to proceed with the filing of a mandatory tender offer (« offre publique d?achat ») for all remaining outstanding shares of ESI Group, at a price of 155 euros per share (the offer) in the coming days. J.P. Morgan SE and BNP Paribas are acting as presenting banks on the Offer, with BNP Paribas acting as guaranteeing bank.