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Sunday, April 26, 2009

Tech Mahindra receives approval from to buy stake in Satyam Computers

Tech Mahindra on Friday received the anti-trust approval from Germany, a pre-requisite for concluding stake acquisitions in Satyam Computer Services. In line with this, the company also requires an anti-trust from US to conclude its buying of stake in Satyam Computers. However, it has already received the clearances from the domestic bourses.

Tech Mahindra emerged the highest bidder for buying 31% stake Satyam at Rs 58 per share. It will further acquire an additional stake of 20% through a mandatory open offer. The open offer will be made at Rs 58 per share.