On May 31, 2012, the Boards of CGI Group Inc. (GIB, GIB-A.TO) and Logica plc (LOG.L) entered into an agreement on the terms of a recommended cash acquisition of Logica by CGI Group Holdings Europe Ltd., a wholly-owned indirect unit of CGI, under which CGI Europe would buy the entire issued and to be issued ordinary share capital of Logica. The acquisition is to be implemented by way of a scheme of arrangement as per the UK Companies Act 2006.
Logica has currently announced that the Scheme document regarding the acquisition is being sent today to its shareholders. It is anticipated that the Scheme would be implemented in August 2012, subject to the approval of Logica's shareholders, the sanction of the Court, and the satisfaction or waiver of the other conditions set out in the Scheme document.
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