Logica shareholders back CGI bid
Wednesday, July 18, 2012
99.54 percent of Logica’s shareholders have backed a takeover bid from CGI of £1.05 per share.
The deal is expected to be worth in the region of £1.7 billion and makes speculation surrounding Logica’s interest in rival-bidders unlikely.
The deal had come under scrutiny from within the analyst community who were sceptical that CGI would be able to successfully integrate Logica’s European operations into the Canadian based company’s range of operations.
Anthony Miller, partner at analyst firm CGI said: “Logica shareholders did not seem to have any second thoughts about accepting CGI’s 105 pence a share offer”.