"And as hostile takeovers in the software services sector are rare, it is likely that that an acquisition is on the cards, until it receives the blessing of Capgemini's board. ®"

There seems to be a word or two missing.

no, that sounds right- remember what sir Humphrey Appleby used to say: once its been officialy denied, it must be true.

"it is likely that that an acquisition is on the cards.." One of those wild card Deadhead hunted acquisitions would be very much in Vogue.

The right acquisition can easily reverse the table to provide a mirroring further advanced concept.

"There seems to be a word or two missing." Priceless black humour, ian. :-) Bravo.

Could it be that the denial is a ploy to lower the target's current share price so that those in the know can buy a few more in the open market *before* the actual takeover talks begin ?? Once the talks begin, it will be considered as "insider trading" and is severely frowned upon.

It could be a matter of timing or mis-timing of the announcement on someone's part.