Did Persistent's offer for Nagarro succeed?

Yes. After the additional acceptance period, Persistent secured about 94% of Nagarro including a block it had already agreed to buy, well above the 50% plus one share minimum.

When will Persistent's Nagarro acquisition close?

Persistent expects closing by the end of Q1 2027, subject to a limited number of regulatory approvals.

Merger Spreads › Deal guides › NA9.DE

Nagarro (NA9): Persistent's €81 offer succeeded, and the acceptance periods are over

Terms checked against SEC filings on 2026-10-12 · checking for newer filings…

Offer€81.00cash per share

Market price—loading…

Spread—gap to the offer

Acceptance periodsEndedlast one closed Oct 6

Secured by Persistent~94%incl. the Lantano stake (Oct 9 release)

Expected closingBy end Q1 2027subject to a few regulatory approvals

In one paragraph

Persistent Systems, through its subsidiary Galaxy Germany Holding SE, made a voluntary public takeover offer for all Nagarro shares at €81.00 in cash. The offer document was published on August 6, 2026. The main acceptance period ended on September 17 with 61.15% of the shares tendered (about 83.25% counting the 22.10% Persistent had already secured from Lantano). After the additional acceptance period (Sep 23 – Oct 6), tendered shares represented about 71.94%, and about 94.04% together with the Lantano block, according to Persistent. The minimum of 50% plus one share was exceeded. Persistent expects to close the transaction by the end of Q1 2027, subject to a limited number of outstanding regulatory approvals.

What can a Nagarro shareholder do now?

1. You can no longer tender

Both acceptance periods have ended, so tendering at €81 is no longer possible for shares that were not tendered in time.

2. Sell on the market

You get today's market price. It is below €81 because the cash for the offer itself is only paid on completion, which is some months away.

3. Stay invested

With about 94% in Persistent's hands, remaining holders are a small minority. Persistent says it intends to delist the shares from the Frankfurt Prime Standard as soon as practicable, which would reduce liquidity.

This is general information, not advice. Taxes: a cash buyout is generally treated like a sale of your shares; check your own situation.

What about the rest of the shares?

Persistent has said it intends to terminate the admission of Nagarro shares to trading. A holder of about 94% of a German company is above the thresholds that typically allow a squeeze-out of remaining minority shareholders for a legally determined compensation, which may or may not equal €81. Whether and when this happens is not confirmed in the sources used here.

Why the price is below €81

The shares that were tendered are paid at €81 when the deal closes, which depends on a few regulatory approvals and could take until the end of Q1 2027. The market price reflects that waiting time and the small risk that closing fails.

What could go wrong?

Regulatory approvals. A limited number are still outstanding. Closing depends on them.
Delisting and liquidity. After a delisting, selling shares becomes harder and the price can change.
Treatment of non-tendering shareholders. Their final compensation is not guaranteed to be €81.

Timeline

Jun 26, 2026 Business Combination Agreement signed; €81 offer announced.
Aug 6 Offer document published; acceptance period starts.
Sep 17 Main acceptance period ends.
Sep 22 Initial result: ~83.25% secured (incl. Lantano).
Sep 23 – Oct 6 Additional acceptance period.
Oct 9 Final result: ~94.04% secured (incl. Lantano), per Persistent.
By end Q1 2027 Expected closing.

Frequently asked questions

Is the offer still open?: No. The main and the additional acceptance periods have ended.
Will Nagarro be delisted?: Persistent says it intends to apply for delisting from the Frankfurt Prime Standard as soon as practicable and legally feasible.
When will tendering shareholders be paid?: On completion of the transaction, which Persistent expects by the end of Q1 2027, subject to regulatory approvals.
Where are the official figures?: In Persistent's and Nagarro's announcements. The Oct 9 final figures come from Persistent's press release as reported; check the original.

Sources

Not investment advice

Merger Spreads is an information service. Prices can be delayed; deal terms are checked by hand against public filings and can change. Always read the filings and talk to your broker before acting.

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