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Scisys Takeover By CGI Group Cleared By UK Competitions Regulator

Wed, 02nd Oct 2019 11:09

(Alliance News) - The UK Competition & Markets Authority on Wednesday cleared the GBP78.9 million acquisition of London-listed Scisys Group PLC by IT firm CGI Group Holdings Europe Ltd.

The regulator launched a probe into the acquisition in August, shortly after the shareholders of software firm Scisys approved of the CGI approach.

In June, Scisys said it accepted a GBP78.9 million cash takeover, valuing each share at 254.15 pence, a 25% premium to its closing price of 204.00p the day before the deal was announced.

Shares in Scisys were untraded in London on Wednesday afternoon, last quoted at 250.00 pence each.

By Eric Cunha; ericcunha@alliancenews.com

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Scisys Takeover By CGI Group Cleared By UK Competitions Regulator

LONDON MIDDAY BRIEFING: Johnson Matthey Hit By Mixed Outlook

WINNERS & LOSERS: EasyJet Rises On Strong May Traffic Statistics

Scisys posts profit warning after project complications and weakness of the euro

LONDON MORNING BRIEFING: Horse Hill Companies Shares Suspended

Scisys Issues Profit Warning On Problem Project And Euro Weakness

Scisys Secures Second Framework Agreement Worth GBP6 Million With BBC

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