Publicis Groupe said today that it has extended the deadline to Jan. 7 for its tender offer for shares of Sapient Corp., which it agreed to purchase for an estimated $3.7 billion in November.
It is the second extension for the offering. Earlier this month, the offer was extended until Dec. 23. Just under 80% of eligible Sapient shares had been tendered as of Dec. 23, the holding company said.
As reported earlier, the deal has cleared antitrust scrutiny in the U.S. and has won “unconditional approval” in Germany. The company did not say if it was still awaiting regulatory approval in other markets.
Earlier, the holding company said it had priced a bond offering that it will use to finance the purchase. The company said it was marketing bonds valued at 1.3 billion Euros, or about $1.6 billion. In addition to funding the Sapient transaction, Publicis said it might use some of the proceeds for general corporate purposes.
The company said that if the Sapient deal has not been completed on or prior to June 30, 2015, or if it cancels the deal by that time, it has the option to call the bonds at 101%.