CGI Group (NYSE: GIB; TSX: GIB.A) has extended its cash tender offer to purchase all of the outstanding shares of common stock of Stanley, Inc. (“Stanley”) (NYSE: SXE) for $37.50 per share, net to the seller in cash, without interest and less any required withholding taxes. The new deadline has been set for August 16, an extension from August 2.
According to the firm, “the offer, which was previously scheduled to expire at 12:00 midnight, New York City time, on Monday, August 2, 2010, has been extended to 12:00 midnight, New York City time, on Monday, August 16, 2010, unless the Offer is further extended or earlier terminated. The Offer is being made pursuant to an Offer to Purchase, dated May 20, 2010, and in connection with the previously announced Agreement and Plan of Merger, dated May 6, 2010, among Stanley, CGI, CGI Federal and CGI Fairfax.”
Terms of the deal remain undisclosed. Following the acquisition agreement in May, the tender offer deadline has been postponed several times throughout the summer.