June 14, 2019 / 7:12 AM / 3 months ago

BUZZ-Scisys: Jumps after CGI offers to buy co for 254.15p/share

** IT services developer Scisys’ up 21.1% at 250p after Canadian IT and consultancy company CGI Inc makes all cash offer of 254.15p/share for SSY

** CGI’s offer, valued at 78.9 mln pounds ($99.97 mln), is a premium of 24.6% to SSY’s closing price of 204p on Thursday

** SSY’s board unanimously recommends the deal; SSY directors, who hold ~25% of its total shares outstanding, will vote in favor of the deal

** YTD, SSY has gained ~37.4% as of Thursday’s close ($1 = 0.7892 pounds) (Reporting by Shariq Khan in Bengaluru)

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