PARIS--Publicis Groupe SA (PUB.FR) has again extended the tender
offer made on the shares of U.S. digital company Sapient Corp.
(SAPE) as the company is still waiting for the necessary approval
from a U.S. government committee.
The French advertising company has pushed back the tender offer
for the fourth time, until the end of the day on Feb. 5, Publicis
said in a statement. The terms of the offer remained unchanged at
$25 per outstanding Sapient share.
The offer was initially set to close mid-December but has been
extended pending the green light from the Committee on Foreign
Investment in the U.S., which examines questions of national
security when foreign companies invest or acquire U.S. companies,
Anne-Gabrielle Heilbronner, Publicis's general secretary has
said.
Boston-based Sapient, which specializes in digital advertising
and consultancy services, has some contracts with the U.S.
government in areas that can be seen as sensitive to national
security. Sapient Government Services, the smallest of Sapient's
three business units, provides technology and services to entities
like the U.S. Marines and the Library of Congress.
The U.S. committee is examining how the contracts Sapient holds
with the different government departments would be managed under
foreign ownership to still serve the interest of the U.S.
government.
Obtaining the CIFUS's green light is the last remaining hurdle
for Publicis to close the Sapient deal, its largest acquisition in
digital advertising to date.
The closing requires Sapient shareholders to tender over 50% of
the group's shares.
Write to Ruth Bender at ruth.bender@wsj.com
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