CGI announces intent to repurchase 1.67 million of its shares [Yahoo! Finance]
CGI Inc. (GIB)
Last cgi inc. earnings: 4/29 06:30 am
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Source: Yahoo! Finance
MONTRÉAL Feb. 23, 2024 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB) announced today that it intends to enter into a private agreement with Mr. 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 ("Class A Shares") indirectly held by him at a price of per Class A Share, for a total consideration of $250 million . The price represents a discount of 3 percent (3%) to the closing price of the Class A Shares on the Toronto Stock Exchange ("TSX") on February 22, 2024 . CGI will fund the repurchase from cash on hand. A Special Committee of CGI's Board of Directors, composed exclusively of independent directors, was established in connection with the share repurchase. After consultation with its external legal advisor Norton Rose Fulbright Canada LLP and financial advisor National Bank Financial Inc. and the receipt of an opinion regarding the reasonableness of the terms of the transaction from Na
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GIB
News
- CGI Inc. (NYSE: GIB) had its price target lowered by analysts at CIBC from $169.00 to $165.00. They now have an "outperformer" rating on the stock.MarketBeat
- CGI Inc. (NYSE: GIB) was upgraded by analysts at TD Securities from a "hold" rating to a "buy" rating.MarketBeat
- CGI reports second quarter Fiscal 2024 results [Yahoo! Finance]Yahoo! Finance
- CGI reports second quarter Fiscal 2024 resultsPR Newswire
- Tuesday's TSX breakouts: After hitting a record high in March, this stock has plunged into oversold territory [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
GIB
Earnings
- 5/1/24 - Beat
GIB
Sec Filings
- 5/1/24 - Form 6-K
- 2/14/24 - Form SC
- 2/9/24 - Form SC
- GIB's page on the SEC website