Overview
- Late Friday the price of Nagarro shares jumped about 20 percent before any public news, and Persistent and Nagarro announced a takeover deal that evening with Persistent offering €81 per share.
- On Monday Nagarro stock climbed further, rising roughly 92 percent to €77.60 as the market priced in the €81 offer.
- Nagarro CEO Manas Human publicly called for a BaFin inquiry into the unexplained trading and BaFin said it continuously monitors markets but would not comment on any specific case.
- Both companies said they kept merger teams deliberately small and disclosed advisers by name, with Persistent advised by Barclays and Hengeler Mueller and Nagarro by JPMorgan and Freshfields.
- Under German rules unusual pre-announcement moves can trigger insider-trading or market-manipulation probes, which could bring formal investigations, reputational damage and scrutiny of who had access to deal information.