Publicis Groupe has again extended the deadline 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 fourth extension for the offering. Last month, the offer was extended twice. The new deadline is Feb. 5.
While the deal has cleared U.S. anti-trust regulatory hurdles, the government’s Committee on Foreign Investment in the U.S. (CFIUS) is still scrutinizing the proposed acquisition. That’s because Sapient handles public contracts that triggered approval by the committee. The inter-agency government body looks at the national security implications of certain transactions involving foreign entities.
According to a Publicis Groupe rep, the CFIUS approval process is “an administrative procedure that takes time and is running its course.”
According to the terms of the tender offer just over 50% of Sapient shares have to be tendered in order for the deal to go through. As of Jan. 22, nearly 81% of Sapient’s outstanding shares had been tendered.