Mahindra Satyam has received its shareholders approval for merger of the firm with its parent company Tech Mahindra. The company received the approval for the same at the respective extraordinary general meeting (EGM) of the two companies held earlier this week and the EGM was convened as per the orders of Andhra Pradesh High Court.
Earlier, the company received the approval of Competition watchdog CCI for the same while; both the companies’ boards had proposed a swap ratio of 2:17. This means for every 17 shares held in Mahindra Satyam, shareholders will get two shares in Tech Mahindra. Following the merger, the merged entity will be the India’s fifth largest software company with annual revenue of about $2.4 billion.
Mahindra Satyam is a global business consulting and information technology service company leveraging deep industry and functional expertise, leading technology practices and a global delivery model to help business transform their process and improve performance.
| Company Name | CMP |
|---|---|
| TCS | 2577.60 |
| Infosys | 1324.90 |
| HCL Tech. | 1440.85 |
| Wipro | 209.00 |
| Tech Mahindra | 1490.10 |
| View more.. | |
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