Thursday, April 30, 2009
Mahindra's offer to buy 20 percent for Satyam opens June 12
Tech Mahindra said on April 22 its open offer to buy up to 20 percent of fraud-hit Satyam Computer Services will open on June 12 and close on July 1.
Tech Mahindra will offer to buy 199 million shares at 58 rupees each, the outsourcing firm said in a newspaper advertisement.
It said the offer included holders of Satyam's U.S.-listed shares.Tech Mahindra, 31 percent owned by Britain's BT Group, was the highest bidder for a controlling stake in Satyam at an auction last week, a deal that will see it step up to the top tier of Indian IT firms.
Tech Mahindra has paid $351 million for a 31 percent stake of new equity, and a fully subscribed open offer would take its stake in Satyam to 51 percent.
To read the full article, click here..
To read the ePaper, visit: http://www.newsindia-times.com
Tech Mahindra will offer to buy 199 million shares at 58 rupees each, the outsourcing firm said in a newspaper advertisement.
It said the offer included holders of Satyam's U.S.-listed shares.Tech Mahindra, 31 percent owned by Britain's BT Group, was the highest bidder for a controlling stake in Satyam at an auction last week, a deal that will see it step up to the top tier of Indian IT firms.
Tech Mahindra has paid $351 million for a 31 percent stake of new equity, and a fully subscribed open offer would take its stake in Satyam to 51 percent.
To read the full article, click here..
To read the ePaper, visit: http://www.newsindia-times.com
Labels: highest bidder, indian it firms, mahindra offer, open offer to buy 20 percent of satyam, satyam, satyam auction, satyam computer services, tech mahindra
Subscribe to Posts [Atom]
