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CMG soars, Logica dips on merger talks.
(From FT Investor (Stories))
LONDON (FT.com) - Logica, the UK IT services group, said on Tuesday it was in discussions to buy its rival CMG to generate cost savings and boost its mobile messaging operations.
Logica said any transaction would be structured as an all-share merger with Logica shareholders owning 60 per cent, and CMG shareholders with 40 per cent.
CMG shares soared almost 39 per cent to 55.5p in early morning trade and Logica shares shrug off early losses to trade almost 2 per cent firmer at 127.25p.
If the takeover is approved by shareholders, Martin ...
- Logica Names Michael Meyer as President and CEO of North American Operations.
- Press release article from: Business Wire May 30, 2002 700+ words
...create new opportunities for Logica to gain greater market share...s caliber demonstrates Logica's continued commitment...America." Prior to joining Logica, Mr. Meyer was the non-executive chairman of i360technologies and president...
- Logica Names Michael Meyer as President and CEO of North American Oeprations.
- Press release article from: Business Wire May 30, 2002 700+ words
...create new opportunities for Logica to gain greater market share...s caliber demonstrates Logica's continued commitment...America." Prior to joining Logica, Mr. Meyer was the non-executive chairman of i360technologies and president...
- Logica and CMG to axe 1,500 jobs in merger.(Business)
- Newspaper article from: The Birmingham Post (England) November 6, 2002 700+ words
...chief executive of Logica, added: 'Bringing Logica and CMG together...will become non-executive chairman and Mr Read will...chief executive of Logica (right) and Cor Stutterheim, executive chairman CMG on the announcement...
- Logica confirms preliminary merger talks with CMG. (Business).
- Magazine article from: RCR Wireless News October 14, 2002 700+ words
...Under the proposed merger plan, Logica shareholders would own 60 percent...percent. Cor Stutterheim, CMG's executive chairman, would serve as the new company's executive chairman, and Martin Read, Logica's managing director and chief...
- Merrill and Close Brothers advise Logica on CMG talks.
- Newspaper article from: Financial News October 8, 2002 700+ words
...as an all-share merger, with Logica shareholders owning 60% of the...remaining 40%. Cor Stutterheim, executive chairman of CMG, would be non-executive...director and chief executive of Logica, would be chief executive. The...
- AUSTRALIA'S USC SELLS IT ARM TO BRITISH CO LOGICA.
- News wire article from: AsiaPulse News October 23, 2000 700+ words
...key MITS employees to join Logica and the consent for material contracts to be transferred to Logica. USC said in addition to...Business Services businesses. Executive chairman Geoff Lord said the retention...and the access to the MITS/Logica people should provide a basis...
- Logica to merge with CMG. (News).
- Magazine article from: RCR Wireless News November 11, 2002 700+ words
...LONDON--Messaging rivals Logica and CMG announced their boards...merge to create LogicaCMG. Logica shareholders will hold 60...including Car Stutterheim, non-executive chairman; Helmut Mamsch, deputy chairman...am delighted that CMG and Logica are joining forces to create...
- Logica merges with CMG.(Business)
- Newspaper article from: Western Mail (Cardiff, Wales) December 31, 2002 700+ words
COMPUTER services groups Logica and CMG will enter the New...of some pounds 2bn, with Logica shareholders owning 60% of...month ago with Martin Read, Logica's chief executive, claiming...take up the post of non-executive chairman while Mr Read will continue...
