Telecom solutions company Tech Mahindra said on Thursday that it has received approval from the US anti-trust authority regarding its Rs 1,154-crore open offer for the purchase of an additional 20 per cent stake in Satyam Computer.
“Our request for early termination of the applicable waiting period relating to the offer has been granted under the Hart-Scott-Rodino Antitrust Improvements Act of 1976…," Tech Mahindra said in a filing with the stock exchanges.
Tech Mahindra further said that “the condition to the offer with respect to anti-trust approval under the Hart-Scott-Rodino Act has been satisfied."
The anti-trust approval in the US was needed as both Satyam and Tech Mahindra work for customers in the US. Also, Satyam is listed on the NYSE. The open offer has already got anti-trust approval from Germany’s Federal Cartel Office, and the Bombay Stock Exchange and the National Stock Exchange.
The open offer, which started on June 12, will close on July 1.
Source: The Hindu Businessline