Four serious suitors have reached the final lap in the race to buy Satyam Computer Services,
after the government-appointed board advanced the time-line for sale to mid-April. Private equity firm, Apax Partners, which had expressed interest in Satyam, has pulled out of the race, according to a number of people familiar with the situation.
BK Modi-promoted Spice Group, that has expressed interest in the beleaguered tech firm, has not signed the non-disclosure pact citing lack of transparency in the bidding process. Mystery still surrounds the intentions of IBM Global Services, one of the world’s largest IT services firms, which had registered its interest through an US-based law firm representing it.
Engineering firm Larsen & Toubro (L&T), IT services firm Tech Mahindra, billionaire investor Wilbur Ross and US-based Cognizant Technology Solutions have inked non-disclosure agreements, a pre-requisite for due diligence, on the assets and liabilities of Satyam.
Private equity investor Wilbur Ross and infrastructure major Larsen & Toubro (L&T) may also jointly bid for a controlling stake in the fraud-hit Satyam Computer Services. According to sources, it is believed that L&T and Ross' firm, WL Ross & Co, has already signed a preliminary agreement last week. Ross will be the financial partner and L&T will handle the daily operations of the Hyderabad-based software company.
The government-appointed Satyam board extended the deadline for submission of financial-bids by four days to April 13 to give more time for due diligence. The winning bidder will be announced the same day.
The winning bidder will gain size and a pool of technically qualified people, placing them in the same league as the top-three IT service providers. While L&T’s Infotech arm will gain skill-sets outside of its area of strength, Tech Mahindra will be able to diversify outside the telecom vertical.crackcrack
| Company Name | CMP |
|---|---|
| TCS | 3825.00 |
| Infosys | 1430.15 |
| HCL Tech. | 1476.80 |
| Wipro | 464.65 |
| Tech Mahindra | 1277.45 |
| View more.. | |
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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