The underlying EBITDA for RXP was $15.36m (previous year...

The underlying EBITDA for RXP was $15.36m (previous year $16.73m)
In the DWS scheme offer (helpful being so recent), the independent expert used an EBITDA multiple of 7 to 8x (which included a 20-25% control premium). They also use RXP as a comparative public company.

For RXP, with shares and perf rights adding to 173,573,184
a fair and reasonable offer would be 61.9c to 70.8c per share, or a mid point of 66.4c

So I think the Capgemini Offer at 55c is very opportunistic.

Also, RXP could pay a 22c fully franked dividend, cash permitting.