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Satyam board meets to assess bidders

Mohit Joshi 20 March 2009

Satyam board meets to assess bidders Hyderabad, Mar. 20 : The Satyam board met on Friday to assess the proposals of the bidders for acquiring up to 51% stake in the embattled IT company, and discuss several other issues.

The Government-appointed company board has received several expressions of interest, including those from engineering major Larsen & Toubro, B K Modi-led Spice Group, software firm Tech Mahindra and iGate, a company official said after the meeting.

The winning bidder can acquire up to 31% stake in the company.

On successful completion of the process, the partner can purchase additional 20% through an open offer.

Earlier, IT firm Satyam Computers had said in a filing to the Bombay Stock Exchange that it has allotted 10,511 equity shares under its stock option plans. (ANI)

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