CGI CEO Michael Roach.
CGI Group Inc. says its U.S subsidiary CGI Fairfax Corp. has again extended its $903-million (U.S.) offer for Stanley Inc. , this time until midnight Aug. 2.
CGI company has offered to pay $37.50 per share for Stanley, a premium of 29 per cent from Stanley's closing price of $29 on the New York Stock Exchange on May 6 - the last trading day before the offer.
None of the terms of the transaction has changed.
CGI said it is extending the offer because it has not yet received some approvals, including from the Committee on Foreign Investment in the United States and the Defense Security Service of the United States Department of Defense.
The companies have said their boards approved the sale and Stanley directors and executives have pledged to vote their shares in support of the deal.