Aegis wants to buy ICT Group

By Lisa Kerner

Charlotte, N.C., March 2 - Aegis Ltd. said it has proposed acquiring all of the outstanding shares of ICT Group, Inc. for $8 per share in cash.

The per-share offer price is a premium of approximately 71% over the 30-day average closing price of ICT shares and approximately a 122% premium above the closing price as of Feb. 27, according to Aegis.

Aegis said any transaction would be subject to due diligence and the negotiation and execution of a mutually agreeable definitive agreement.

The company said it wants to effect a merger on a friendly basis with the support of ICT's board of directors.

Aegis, a Mumbai, India, business process outsourcing company, is part of Indian conglomerate Essar Group.

ICT is a Newtown, Pa.-based provider of customer management and business process outsourcing services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.