{"id":789852,"date":"2023-10-12T07:03:54","date_gmt":"2023-10-12T11:03:54","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cegeka-and-ctg-announce-extension-of-tender-offer-for-all-outstanding-shares-of-ctg-2\/"},"modified":"2023-10-12T07:03:54","modified_gmt":"2023-10-12T11:03:54","slug":"cegeka-and-ctg-announce-extension-of-tender-offer-for-all-outstanding-shares-of-ctg-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cegeka-and-ctg-announce-extension-of-tender-offer-for-all-outstanding-shares-of-ctg-2\/","title":{"rendered":"Cegeka and CTG Announce Extension of Tender Offer for All Outstanding Shares of CTG"},"content":{"rendered":"
\n

HASSELT, Belgium and LIMBURG, Netherlands and BUFFALO, N.Y., Oct. 12, 2023 (GLOBE NEWSWIRE) — Cegeka Groep NV (\u201cCegeka\u201d) and Computer Task Group, Incorporated (NASDAQ: CTG) (\u201cCTG\u201d) announced today that Chicago Merger Sub, Inc. (\u201cMerger Sub\u201d), a wholly owned subsidiary of Cegeka, has extended the expiration date of its offer (the \u201cOffer\u201d) to acquire all of the outstanding shares of common stock of CTG, par value $0.01 per share (\u201cShares\u201d), for $10.50 per Share, net to the seller in cash, without interest and less any applicable withholding taxes, pursuant to the Agreement and Plan of Merger, dated as of August 9, 2023, by and among Cegeka, CTG, and Merger Sub (the \u201cMerger Agreement\u201d).<\/p>\n

The Offer, which is scheduled to expire at one minute after 11:59 p.m., Eastern Time, on October 13, 2023, has been extended until one minute after 11:59 p.m., Eastern Time, on November 3, 2023, unless the Offer is further extended or earlier terminated pursuant to the terms of the Merger Agreement.<\/p>\n

Computershare, the depositary for the Offer, has indicated that as of 5:00 p.m., Eastern Time, on October 11, 2023, approximately\u00a08,259,806.406 Shares had been validly tendered into and not validly withdrawn from the Offer, representing approximately 53.6755% of the outstanding Shares. Shareholders that have previously tendered their Shares do not need to re-tender their Shares or take any other action in response to this extension.<\/p>\n

The Offer is being made pursuant to the terms and conditions described in the Offer to Purchase, dated August 23, 2023 (the \u201cOffer to Purchase\u201d), the related Letter of Transmittal and certain other offer documents, copies of which are attached to the Tender Offer Statement on Schedule TO filed by Cegeka and Merger Sub with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d) on August 23, 2023, as each may be amended or supplemented from time to time.<\/p>\n

The Offer is conditioned upon the fulfillment of certain conditions described in \u201cThe Tender Offer\u2014Section 15\u2014Conditions to the Offer\u201d of the Offer to Purchase, including, but not limited to, the receipt of approvals from the Belgian Competition Authority and the Luxembourg Supervision Commission of the Financial Sector (the \u201cRegulatory Condition\u201d). The Offer was extended to allow additional time to satisfy the Regulatory Conditions and the other conditions described in the Offer to Purchase.<\/p>\n

Georgeson\u00a0is acting as the information agent in the Offer. Computershare Trust Company, N.A. is acting as the depositary and paying agent in the Offer. Requests for documents and questions regarding the Offer may be directed to Georgeson by telephone at 1-866-431-2096.<\/p>\n

\n About Cegeka<\/strong>\n <\/p>\n

Cegeka is an ambitious and leading IT solutions provider. In line with our motto, \u2018In close cooperation,\u2019 we strive to provide the best possible customer service and support our more than 2,500 customers in their digitization journey. Cegeka offers integrated\u00a0end-to-end\u00a0solutions in the fields of Data, Applications, and Infrastructure, which are strongly interconnected.<\/p>\n

Cegeka has over 6,000 employees with locations in Belgium, Luxembourg, the Netherlands, Germany, Austria, Romania, Moldova, Italy, the Czech Republic, Slovakia, Sweden, the United States, and Greece, and has a consolidated turnover of \u20ac871\u00a0million (in 2022). Cegeka is a European family-owned company. It was founded in 1992 by Andr\u00e9 Knaepen, who is currently the chairman of the board of directors. CEO Stijn Bijnens manages the Company from its head office in Hasselt, Belgium.<\/p>\n

\n About CTG<\/strong>\n <\/p>\n

CTG is a leading provider of digital transformation solutions and services that accelerate clients\u2019 project momentum and achievement of their desired IT and business outcomes. We have earned a reputation as a faster, more reliable, results-driven partner focused on integrating digital technology into all areas of its clients to improve their operations and increase their value proposition. CTG\u2019s engagement in the digital transformation process drives improved data-driven decision-making, meaningful business performance improvements, new and enhanced customer experiences, and continuous innovation. CTG operates in North America, South America, Western Europe, and India. CTG regularly posts news and other important information at www.ctg.com<\/a>.<\/p>\n

\n Important Information for Investors and Security Holders<\/strong>\n <\/p>\n

The tender offer for all the outstanding common stock of CTG referred to in this press release commenced on August 23, 2023. The description contained in this press release is neither an offer to purchase nor a solicitation of an offer to sell any securities, nor is it a substitute for the tender offer materials that Cegeka has filed with the SEC. The solicitation and offer to buy the common stock of CTG will only be made pursuant to an offer to purchase and related tender offer materials. Cegeka has filed a tender offer statement on Schedule TO, and CTG has filed a solicitation\/recommendation statement on Schedule\u00a014D-9\u00a0with the SEC with respect to the tender offer. THE TENDER OFFER MATERIALS (INCLUDING THE OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL, AND CERTAIN OTHER OFFER DOCUMENTS) AND THE SOLICITATION\/RECOMMENDATION STATEMENT ON SCHEDULE\u00a014D-9\u00a0CONTAIN IMPORTANT INFORMATION. ANY HOLDERS OF SHARES ARE URGED TO READ THESE DOCUMENTS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT HOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SHARES. The offer to purchase, the related letter of transmittal, and the solicitation\/recommendation statement are available for free at the SEC\u2019s website at www.sec.gov. Free copies of the offer to purchase, the related letter of transmittal, and certain other offering documents may be obtained by directing a request to Georgeson, the information agent for the tender offer, toll-free at +1 866 431 2096. Copies of the documents filed with the SEC by CTG are available free of charge on CTG\u2019s internet website at www.ctg.com or by contacting CTG\u2019s Investor Relations Department at +1 716 887 7368.<\/p>\n

In addition to the offer to purchase, the related letter of transmittal and certain other tender offer documents filed by Cegeka, as well as the solicitation\/recommendation statement filed by CTG, have been filed with the SEC. CTG will also file periodic and current reports with the SEC. You may read and copy any reports or other information filed by Cegeka or CTG at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at\u00a01-800-SEC-0330\u00a0for further information on the public reference room. CTG\u2019s filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at http:\/\/www.sec.gov<\/a>.<\/p>\n

\n Forward Looking Statements<\/strong>\n <\/p>\n

This press release contains statements that constitute \u201cforward looking statements,\u201d including statements that express the opinions, expectations, beliefs, plans, objectives, assumptions, or projections regarding future events or future results, including statements regarding the proposed acquisition of CTG by Cegeka (the \u201cProposed Acquisition\u201d), in contrast with statements that reflect historical facts. In some cases, you can identify such forward-looking statements by terminology such as \u201canticipate,\u201d \u201cintend,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cplan,\u201d \u201cseek,\u201d \u201cproject,\u201d or \u201cexpect,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201ccould,\u201d \u201cpotential,\u201d \u201cintend,\u201d or \u201cshould,\u201d the negative of these terms or similar expressions. Forward-looking statements are based on management\u2019s current beliefs and assumptions and information currently available to Cegeka and CTG. However, these forward-looking statements are not a guarantee of performance, and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other variable circumstances, including, but not limited to, the ability of the parties to satisfy the closing conditions for the Proposed Acquisition on a timely basis or at all, including the possibility that a governmental agency may prohibit, delay, or refuse to grant approval for the consummation of the Proposed Acquisition; statements about the expected timetable for completing the Proposed Acquisition; uncertainties as to how many of CTG\u2019s shareholders will tender their shares in the offer; the possibility that competing offers will be made; the occurrence of events that may give rise to a right of one or both of Cegeka and CTG to terminate the merger agreement; negative effects of the announcement of the Proposed Acquisition on the market price of CTG\u2019s common stock and\/or on it business, financial condition, results of operations, and financial performance (including the ability of CTG to maintain relationships with its customers, suppliers, and others with whom it does business); the effects of the Proposed Acquisition (or the announcement thereof) on CTG\u2019s ability to retain and hire qualified professional staff and talent, including technical, sales and management personnel; competition for clients; the increased bargaining power of CTG\u2019s large clients; the occurrence of cyber incidents and CTG\u2019s ability to protect confidential client data; the partial or complete loss of the revenue CTG generates from its largest client, International Business Machines Corporation (IBM); the uncertainty of CTG\u2019s clients\u2019 implementations of cost reduction projects; the mix of work at CTG between IT Solutions and Services and\u00a0Non-Strategic\u00a0Technology Services, and the risk of disengaging from\u00a0Non-Strategic\u00a0Technology Services; currency exchange risks; risks associated with CTG\u2019s domestic and foreign operations, including uncertainty and business interruptions resulting from political changes and actions in the U.S. and abroad, such as the conflict between Russian and Ukraine and recent developments in China, and volatility in the global credit and financial markets and economy; renegotiations, nullification, or breaches of contracts with clients, vendors, subcontractors or other parties; the impact of current and future laws and government regulations, as well as repeal or modification of such, affecting the IT solutions and services industry, taxes and CTG\u2019s operations in particular; industry, economic, and political conditions, including fluctuations in demand for IT services; and consolidation among CTG\u2019s competitors or clients. Such risks and uncertainties may cause the statements to be inaccurate, and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of the control of Cegeka and CTG and could cause actual results to differ materially. The forward-looking statements included in this press release are made only as of the date hereof. Cegeka and CTG do not undertake, and specifically decline, any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law.<\/p>\n

A further description of risks and uncertainties relating to CTG can be found in CTG\u2019s Annual Report on Form\u00a010-K\u00a0for the fiscal year ended December\u00a031, 2022, as filed with the SEC, and in other documents filed from time to time with the SEC by CTG and available at www.sec.gov and www.ctg.com<\/a>.<\/p>\n


\n
\n \n <\/div>\n

\n
Media\r\n\r\nFor Cegeka:\r\n\r\nSergio Destino, Global Operational Marketing Director\r\nsergio.destino@cegeka.com\r\n+32 473 490832\r\n\r\nFor CTG:\r\n\r\nAmanda LeBlanc, Chief Marketing Officer and Vice President, Global Marketing\r\namanda.leblanc@ctg.com\r\n+1 225 772 8865<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
HASSELT, Belgium and LIMBURG, Netherlands and BUFFALO, N.Y., Oct. 12, 2023 (GLOBE NEWSWIRE) — Cegeka Groep NV (\u201cCegeka\u201d) and Computer Task Group, Incorporated (NASDAQ: CTG) (\u201cCTG\u201d) announced today that Chicago Merger Sub, Inc. (\u201cMerger Sub\u201d), a wholly owned subsidiary of Cegeka, has extended the expiration date of its offer (the \u201cOffer\u201d) to acquire all of the outstanding shares of common stock of CTG, par value $0.01 per share (\u201cShares\u201d), for $10.50 per Share, net to the seller in cash, without interest and less any applicable withholding taxes, pursuant to the Agreement and Plan of Merger, dated as of August 9, 2023, by and among Cegeka, CTG, and Merger Sub (the \u201cMerger Agreement\u201d). The Offer, which is scheduled to expire at … <\/p>\n
Continue reading “Cegeka and CTG Announce Extension of Tender Offer for All Outstanding Shares of CTG”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-789852","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCegeka and CTG Announce Extension of Tender Offer for All Outstanding Shares of CTG - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cegeka-and-ctg-announce-extension-of-tender-offer-for-all-outstanding-shares-of-ctg-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cegeka and CTG Announce Extension of Tender Offer for All Outstanding Shares of CTG - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"HASSELT, Belgium and LIMBURG, Netherlands and BUFFALO, N.Y., Oct. 12, 2023 (GLOBE NEWSWIRE) — Cegeka Groep NV (\u201cCegeka\u201d) and Computer Task Group, Incorporated (NASDAQ: CTG) (\u201cCTG\u201d) announced today that Chicago Merger Sub, Inc. (\u201cMerger Sub\u201d), a wholly owned subsidiary of Cegeka, has extended the expiration date of its offer (the \u201cOffer\u201d) to acquire all of the outstanding shares of common stock of CTG, par value $0.01 per share (\u201cShares\u201d), for $10.50 per Share, net to the seller in cash, without interest and less any applicable withholding taxes, pursuant to the Agreement and Plan of Merger, dated as of August 9, 2023, by and among Cegeka, CTG, and Merger Sub (the \u201cMerger Agreement\u201d). 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(\u201cMerger Sub\u201d), a wholly owned subsidiary of Cegeka, has extended the expiration date of its offer (the \u201cOffer\u201d) to acquire all of the outstanding shares of common stock of CTG, par value $0.01 per share (\u201cShares\u201d), for $10.50 per Share, net to the seller in cash, without interest and less any applicable withholding taxes, pursuant to the Agreement and Plan of Merger, dated as of August 9, 2023, by and among Cegeka, CTG, and Merger Sub (the \u201cMerger Agreement\u201d). 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