CGI To Drop $2.6B On Logica To Spawn Global IT Powerhouse

Law360, New York (May 31, 2012, 2:39 PM EDT) -- CGI Group Inc. plans to snag Logica PLC for £1.7 billion ($2.6 billion) in a move to grow its geographic footprint and better cater to multinational clients in an increasingly global information technology services industry, the Canadian IT company said Thursday.

The 105 pence ($1.63) per-share price offered to Logica investors is roughly a 50 percent premium over Wednesday's closing price and a 33 percent premium over the six-month average leading up to the deal announcement.

To finance the buy, CGI will exchange nearly 47 million...
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