Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

CGI makes recommended $459 mln cash offer for Sweden's Acando

Published 2019-03-11, 03:58 a/m
Updated 2019-03-11, 04:00 a/m
CGI makes recommended $459 mln cash offer for Sweden's Acando

STOCKHOLM, March 11 (Reuters) - Canadian IT consultancy CGI Inc. GIBa.TO said on Monday it had made a 4.32-billion Swedish crown ($459 million) cash offer for Swedish peer Acando ACANb.ST .

CGI said Acando's board unanimously recommended the 41.45 crown per share offer, which represented a 44.2 percent premium on the closing price for Acando shares on Friday.

"CGI believes that the offer represents an attractive opportunity to execute on its growth strategy and strengthen its capabilities in Northern Europe and Germany," it said in a statement.

The deal requires regulatory approval. Assuming the offer was declared unconditional no later than around April 18, the setttlement was expected to begin around April 25, CGI said.

Acando said in a separate statement that owners holding shares equal to 30 percent of votes in the company had agreed to the offer.

($1 = 9.4101 Swedish crowns)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.