Logica's shareholders have voted overwhelmingly in favour of CGI's recommended cash offer of 105p per share at Monday's annual general meeting (AGM).
Providing certain conditions and procedures are undertaken, the firm currently expects the acquisition to be completed on August 20th, as planned.
Referring to the 99.54% vote in favour of the takeover, Michael Roach, President and Chief Executive Officer of CGI, expressed pleasure at the level of shareholder support shown for the transaction.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The combination of CGI and Logica represents a unique transformational opportunity and we will immediately start the process of successfully integrating the two businesses to create a global technology services leader with 72,000 professionals worldwide," Roach said.
Payment to shareholders is expected on September 3rd.
NR
-
Water companies blocked from using customer money to pay “undeserved” bonusesThe regulator has blocked three water companies from using billpayer money to pay £1.5 million in exec bonuses
-
Will the Bitcoin price hit $100,000?With Bitcoin prices trading just below $100,000, we explore whether the cryptocurrency can hit the milestone.
