CMC gets nod to amalgamate with TCS

17 Oct 2014 Evaluate

CMC’s board has approved the amalgamation of CMC with Tata Consultancy Services (TCS) pursuant to and subject to the provisions of sections 391 to 394 of the companies act, 1956.

As per the terms of the scheme of amalgamation (scheme), shareholder of CMC will receive 79 equity shares of Rs 1 each of TCS for 100 equity shares of Rs 10 each of CMC. The swap ratio has been arrived at based on the valuation report prepared by BSR & Associates LLP. The scheme is subject to court, regulatory, shareholders and other necessary approvals.

CMC is leading system engineering and Integration Company in India and is a subsidiary of Tata Consultancy Services, Asia’s largest software company. Operating out of 18 offices and 180 services locations in the country, CMC employs over 10,000 people and has a wholly owned subsidiary in USA called CMC Americas, Inc.

Peers
Company Name CMP
Tejas Networks 656.05
Netweb Technologies 1610.75
DC Infotech and Comm 182.00
Ducon Infra. 7.14
Control Print 936.15
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