By Ian Walker

The U.K. Competition and Markets Authority said Wednesday that it won't refer the proposed 78.9 million pound ($96.9 million) acquisition of SciSys Group PLC (SSY.LN) by Canada's CGI Inc. (GIB.A.T) for further investigation.

The regulator said on Aug. 14 that it was considering whether the merger would create a competition issue if it goes ahead.

The CMA said Wednesday that it had decided, based on information currently available to it, not to refer the merger for a Phase 2 investigation.

SciSys Group announced on June 14 that it had accepted an offer by CGI at 254.15 pence a share--a 25% premium to its June 13 closing price.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

October 02, 2019 04:33 ET (08:33 GMT)

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