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Article: CGI Group announces bid for acquisition of COGNICASE Inc.
- Article from:
- PR Newswire
- Article date:
- December 6, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB) announced today its offer to purchase all of the outstanding common shares of COGNICASE Inc. (COGNICASE) (TSX: COG; Nasdaq: COGI). In connection with this offer, CGI has entered into a lock-up agreement with the largest shareholder (9,450,187 shares or approximately 15%) and largest client of COGNICASE, National Bank of Canada, whereby National Bank of Canada has agreed that it will tender its shares to CGI. Additionally, provided that CGI's bid is successfully completed and subject to the negotiation of certain mutually acceptable terms, the outsourcing contracts in existence between COGNICASE and National Bank of Canada will ...