Cegeka to Acquire CTG for $10.50 Per Share In A Transaction Worth $170M; Implies a Premium of 45%
Portfolio Pulse from Benzinga Newsdesk
European IT solutions company Cegeka has agreed to acquire Computer Task Group (CTG) for $10.50 per share, representing an implied equity value of approximately $170 million. The offer price represents a 44.8% premium to the trailing 90-day volume weighted average stock price. Both the Cegeka and CTG board of directors unanimously approved the merger agreement.
August 09, 2023 | 10:57 am
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CTG is being acquired by Cegeka for $10.50 per share, a 44.8% premium to the trailing 90-day volume weighted average stock price. The deal has been unanimously approved by both boards.
The acquisition of CTG by Cegeka at a significant premium is likely to have a positive impact on CTG's stock price in the short term. The unanimous approval by both boards indicates a high likelihood of the deal going through.
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