CGI announced that it intends to enter into a private agreement with Serge Godin, founder and executive chairman of the board of CGI, for the purchase for cancellation of 1,674,930 Class A subordinate voting shares indirectly held by him at a price of $149.26 per Class A Share, for a total consideration of $250M. The price represents a discount of 3% to the closing price of the Class A Shares on the Toronto Stock Exchange on February 22. CGI will fund the repurchase from cash on hand.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on GIB:
- CGI Inc. selected by Utah for modernization of HCM solution
- CGI Inc., LocalTapiola extend C$284M strategic partnership for five years
- CGI Inc. price target raised to C$165 from C$155 at Scotiabank
- CGI Inc. price target raised to C$164 from C$163 at Desjardins
- CGI Inc. price target raised to C$167 from C$150 at Raymond James
