Open offer gets poor response, preferential allotment to follow On the conclusion of the mandatory open offer to shareholders of Satyam Computers, the new owner, Tech Mahindra, has a little over 42 per cent stake in the...
Mahindra Satyam to merge with Tech Mahindra
Mahindra Satyam, the rechristened Satyam Computer Services, will merge with Tech Mahindra as part of an effort to promote greater synergies. “It is only logical as there are a lot of synergies between the two...
Satyam renamed as Mahindra Satyam
After two days of deliberations on a road map for fraud-hit Satyam Computer Services at the firm’s ‘Leadership Meet’ that concluded here today, Tech Mahindra, the new owners, have given the IT company...
Satyam offer: Tech Mahindra gets US nod
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...
Will not hike Satyam offer price: Tech Mahindra
In the face of surge in stock prices of Satyam to about Rs 81 a share on the eve of the open offer for beleaguered company, its new owner Tech Mahindra today said it will not hike the offer price. "Our agreement...
Past acquisitions come to haunt Satyam
The street may have given thumbs-up to the better-than-expected financial health of Satyam Computer Services, but the troubles for the scam-hit firm are far from over. Apart from being locked in class-action lawsuits...
Tech Mahindra makes changes in Satyam open offer
IT firm Tech Mahindra has extended the date for approaching the shareholders of Satyam Computer regarding its Rs 1,154-crore open offer for the purchase of a 20 per cent stake in the scam-hit firm, a move which comes...
Satyam allots 31% shares to Tech Mahindra arm
Satyam Computer Services today announced that it allotted 300.27 million shares (31 per cent of the share capital) to Venturbay Consultants, a subsidiary controlled by Tech Mahindra, which outbid rivals in the race to...
Takeaways from the Satyam saga
The Satyam scam saga may be, but the Hyderabad IT firm’s woes are not. There is still a lot of uncertainty around the restatement of accounts, legal liabilities, transition plans and surplus employees. The sale to...
Not just L&T, TechM too acquired Satyam stocks, but sold at Rs 7-cr loss
Tech Mahindra, the new owner of the Satyam Computer Services, bought shares of the Hyderabad-based software exporter within days of its disgraced chairman Ramalinga Raju admitting to perpetuating an accounting fraud...
Tech M’s open offer for Satyam from Jun 12
Tech Mahindra, the information technology services subsidiary of Mahindra & Mahindra, which has deposited the money required to acquire 51 per cent stake in Satyam Computer Services, today announced an open offer...
A new, improved Satyam?
When I was young (Oh God, there I go again!) a movie running for 100 days was a significant achievement. (Today however, I see posters heralding a triumphant ten-day-run of movies.) Aradhana, the Hindi movie with...