L&T already has 12& stake in the company as is currently not interested in divesting its stake.
Tech Mahindra will have to pay Rs 1757 crore (USD 351 million) for 31% at Rs 58 per share, whereas for the total 51% stake the company will have to pay Rs 2,890 crore. The company will make an open offer at Rs 58 per share.
The real Impact of the deal on Tech Mahindra would evolve in the days to come as it aligns the maligned Software firm’s business within its frame of operations and makes sure that clients do not move away from it. The impact of litigation related to Satyam fraud would also be a challenge for the company.
Intense trading activity was witnessed on Satyam Computer counter as the stock zoomed as high as 18% at the time of announcement, just to cool down later. More than 13 Crore shares of Satyam computers were traded. Tech Mahindra stock price also jumped by more than 12% post the announcement.
2 comments:
Hello Sir,
I had created a debate "Revised balance sheet of Satyam"(description:Can there be any reason of Satyam for not revealing their revised balance sheet before the bidding?")
I found u r intrested in Ongoing market.
So i request you to give ur valuable suggestion here(in the link mentioned in the name) so that we can know better about this case. looking froward from u.
Any idea regarding the current status of this deal
The open offer by Tech Mahindra failed considerably .. so what next.. how will Tech Mahindra raise its stake that t had earlier planned
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