Tag: Yahoo Finance

Sweden's SEB dismisses report of money laundering 'red flags'

"The programme showed us nothing new which we need to act on today," SEB Chief Executive Johan Torgeby told Reuters after SVT reported that an SEB client list contained "red flags" - names associated with well-known proxies for Russian non-resident companies suspected of money laundering. SEB had managed to stay clear of a long-running Baltic money scandal which has hit rivals Swedbank and Danske Bank. SVT's report said transactions through 194 SEB accounts included around 475 million Swedish crowns ($49 million) connected to the so-called Magnitsky affair....

Elliott Calls Capgemini’s $4 Billion Altran Bid Too Low

(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Activist investor Elliott Management Corp. said that Capgemini SE’s offer for Altran Technologies SA is inadequate and called the sales process flawed.Elliott, which has built up a position of more than 10% in Altran, believes that a fair value for the company is more than 20 euros a share, based on analysts’ estimates for the company’s future earnings, it said in a statement on Wednesday. The firm had said in an earlier filing that Capgemini’s current offer of 14-euros-a-share, or 3.6 billion euros ($4 billion) excluding debt, undervalues the company.“Altran shareholders are offered an inadequate premium to forgo the company’s promising standalone prospects, despite the huge value-creation potential of the combination,’’ Elliott said in the statement.Altran shares rose 0.2% to 14.07 euros at 10:25 a.m. in Paris. The stock’s gained about 23% since...