LogicaCMG buys Unilog for £630m
PrintRights issue
Posted in Financial News, 19th September 2005 09:51 GMT
Free whitepaper – Thermal design of Dell PowerEdge server
LogicaCMG is paying €930.3m(£630.6m) for French reseller Unilog and will issue shares to pay for it.
It will buy 32.3 per cent from "certain members of the management of Unilog and others for a total of €255.4m in cash and the issue of 19, 572, 703 new Consideration Shares.".
The company proposes to acquire the remaining 67.7 per cent by offering shareholders €73 in cash for each share, an 11.5 per cent premium.
The combined company will have 27,000 employees and would have had turnover of just over €2bn in 2004. The merger will make the new company number four in France and a top-ten player across Europe. Directors pforecast "synergies" of £19m for the year ending December 31 2007.
You can see the release on Logica's website as long as you tell them you are in the UK and your telephone code is 44 - go here.
The deal is subject to the usual shareholder and regulator approval - there will be an Extraordinary General Meeting 13 October and the shareholder offer is expected to close by year end. ®
Analyst Keynote: The Register Agile Data Center Summit
10 Steps to a Successful CRM Implementation
Market Primer: ERP Systems
What Exchange can't do - and Dell can
Enabling The Agile Data Center
Dirty, dirty PCs: The X-rated picture guide
Top 500 supers - rise of the Linux quad-cores
Early adopters bloodied by Ubuntu's Karmic Koala
Sign up, sign up for The Register IT security newsletter