Nasdaq GlobeNewswire posted a press release announcing Publicis Groupe extended the deadline of its tender offer to purchase Sapient in order to allow for certain required approvals. The deal must now be consummated by February 5, which leaves folks a few weeks to reconsider the $3.7 billion drunken decision by Publicis Groupe CEO Maurice Lévy. At least Sapient employees—including the 13,000 staffers in India—can rest assured there will be no layoffs if the acquisition happens. However, they can’t rest assured there will be no organizational changes, as a leadership cluster-fuck has already been plotted.
Publicis Groupe Extends Tender Offer to Acquire Sapient until February 5, 2015
PUBLICIS GROUPE EXTENDS TENDER OFFER TO ACQUIRE SAPIENT
PARIS, Jan. 23, 2015 (GLOBE NEWSWIRE) -- Publicis Groupe [Euronext Paris: FR0000130577, CAC40] (“Publicis”) today announced that it has extended its previously announced tender offer to purchase all of the outstanding shares of common stock of Sapient Corporation (NASDAQ: SAPE) (“Sapient”) for $25.00 per share in cash (the “Offer”). The Offer will now expire at the end of the day, immediately after 11:59 p.m., New York City time, on February 5, 2015, unless it is further extended. All other terms and conditions of the Offer remain unchanged.
The completion of the Offer is subject to certain customary terms and conditions. As previously disclosed, the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired and the Offer has been cleared unconditionally under the German Act Against Restraints of Competition. The Offer has been extended to allow additional time for the satisfaction of the CFIUS Condition and the FOCI Mitigation Plan Condition, each as defined in the Offer to Purchase dated November 12, 2014, as amended, and other related materials by which the Offer is being made.
Computershare Trust Company, N.A., the depositary for the Offer, has advised Publicis that as of 5:00 p.m., New York City time, on January 22, 2015, approximately 113,602,382 shares of common stock of Sapient have been validly tendered and not withdrawn pursuant to the Offer, representing approximately 80.6% of Sapient’s outstanding shares. Shareholders who have already tendered their shares of common stock of Sapient do not have to re-tender their shares or take any other action as a result of the extension of the Offer.
About Publicis Groupe Publicis Groupe [Euronext Paris FR0000130577, CAC 40] is one of the world’s leading communications groups. The Groupe offers a full range of services and skills: digital (DigitasLBi, Razorfish, Rosetta, VivaKi, Nurun), advertising (BBH, Leo Burnett, Publicis Worldwide, Saatchi & Saatchi), public affairs, corporate communications and events (MSLGROUP), media strategy, planning and buying (Starcom MediaVest Group and ZenithOptimedia), healthcare communications, with Publicis Healthcare Communications Group (PHCG), and finally, brand asset production with Prodigious. Present in 108 countries, the Groupe employs more than 64,000 professionals