CMA clears CGI Group acquisition of Scisys

(Sharecast News) - The Competition and Markets Authority announced on Wednesday that it has decided, based on the information currently available to it, not to refer the acquisition of software and services provider Scisys by Canadian consulting giant CGI Group to a phase 2 investigation.
CGI Group had offered £78.9m cash for the company, or 254.15p per share, when it first announced the acquisition offer in mid-June.

The competition watchdog launched its merger inquiry on 14 August, with the comment period closing on 28 August.

"The CMA has cleared the anticipated acquisition by CGI Group Holdings Europe Limited of Scisys Group plc," the authority said in its initial statement on Wednesday, adding that the full text of its decision would be available shortly.