CGI Group extends tender offer for stock of government contractor Stanley for second time

CGI Group again extends Stanley tender offer

FAIRFAX, Va. — For the second time in as many months, information technology company CGI Group Inc. on Monday extended its $903 million tender offer for Stanley Inc., a government contractor.

The Canadian company said in May it would buy Stanley for $37.50 per share in cash. The boards of both companies approved the deal.

The offer, made through one of its subsidiaries, was extended until midnight Aug. 2. The previous extension expired Friday.

CGI said about 84 percent of Stanley’s shares have already been validly tendered.

CGI said it was extending the offer because the deal had not yet gotten some required regulatory clearances.

Stanley, based in Arlington, Va., provides systems and professional service support to the federal government. CGI plans to make Stanley part of its CGI Federal unit, which does business with the U.S. government and defense, intelligence, and civilian agencies.

Shares of CGI rose 6 cents to close at $15.52 Monday. Stanley shares slipped 2 cents to $37.42.

(This version CORRECTS Corrects stock prices.)