Tech Mahindra, Satyam Bid

Perform Sri Ganesh Puja online Musical Ganesh Puja

http://www.satyam.com/images/satyam_logo.jpg Now http://www.techmahindra.com/images/logo_TechM.jpg

Tech Mahindra, a joint venture between British Telecom and the Indian conglomerate Mahindra & Mahindra, stands to win control of Satyam Computer Services after a bid that values the fraud-damaged company at $1.2 billion.

Tech Mahindra was the highest bidder for Satyam, with a 58 rupee, or $1.16, per share bid, for 31 percent of the company, Satyam said Monday. The offer beats a bid from the Indian engineering firm Larsen & Toubro, which already owns a 12 percent stake in Satyam.

Satyam was one of India’s largest information technology companies, with more than 50,000 employees and a market capitalization of over $7 billion, before one of the company’s founders said in January he had faked about $1 billion in cash and inflated the company’s operating margins.

Tech Mahindra would pay Rs 1,900 cr within the next four days for the 31 per cent stake in Satyam and Satyam would operate as a special purpose vehicle until Tech Mahindra raises its stake to 51%.Spice Corp, IBM and iGate were among those confirmed names that dropped out of the race after showing an interest in the company.

satyam, satyam news, satyam tech mahindra, satyam bid, satyam share

Blog Widget by LinkWithin Visit Bolmamabol Tv For All Episodes. Feeding Your Drama Addictions, Enjoy Tv online Videos, Thanks Number of View :816

Possibly Related Posts:


Receive Free Mail Updates

Enter your email address:

Delivered by FeedBurner

Leave a Reply


I am loving Wordpress