Tech Mahindra wins bid for Satyam Computer
- Updated On 25/12/2010
- Author : Pradeep Kumar
- Topic : Technology
- Short URL : https://hellboundbloggers.com/?p=616
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Tech Mahindra, currently, the new owner for Satyam Computer. Tech Mahindra outbids all the rivals including L & T, Wilbur Ross, Cognizant and many more. Larsen and Toubro were also in the race and owns about 12 per cent stake in Satyam Computers. Tech Mahindra won the Satyam Computer bid after bidding at Rs.58 per share. Spice Corporation says that the bidding process lacked transparency and so they pulled out of the race. IBM and iGate also dropped out of this race. iGate is having concerns about falling revenues and the clarity on customers and margins. Satyam Computer now has a market capitalization of Rs.5,666 crore on expanded equity.
Satyam Computer is selling 51 per cent stake. 31% through bidding and the remaining 20% by open offer.
The following are some of the top headlines regarding the Satyam Computer issue
- Tech Mahindra to pay 2890 CR for 51% Stake.
- Satyam Computer to operate as a entity from Tech Mahindra with separate liabilities.
- Larsen and Toubro made Rs. 49.50 per share.
- Tech Mahindra made an open offer for a 20 per cent stake.
- Tech Mahindra shares increases by 13 per cent nearly.
- Satyam Computer shares increase nearly up to 7 per cent.
- Tech Mahindra will issue a public offer within 55 days of public announcement.
- Tech Mahindra beats the challenge of L & T, Wilbur Ross and many more.
- Tech Mahindra will run Satyam as an independent company with separate liabilities.
Anand Mahindra says that their main aim is to rebuild Satyam Computer and make it great, as it was before.
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6 CommentsFacebook Comments
congrats and all the best for all satyam employees
I think now u can say Tech Mahindra employees rather than Satyam ! Ha ha… 😉
Its not about making Satyam stronger but its more to do with getting Tech Mahindra a foot in the door as if till now they had no projects and are still in debts and on verge bankruptcy….
Lets hope Mr.Anand Mahindra will make Satyam Computer and Tech Madindra a Joint Venture to make IT a standard one in India…! 😉
We can hope that they will make Satyam more stronger than earlier! 🙂
Yeah ! Satyam Saga finally over I guess… ! 😉