Infosys dumps acquisition bid of Axon

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Just in: IT giant Infosys Technologies on Friday, Oct 10 reportedly dumped the takeover bid of British Consultancy Axon.
5:14 PM 10/10/2008

Bangalore, Oct 10: Infosys in a statement here on Friday, Oct 10 very firmly refused to increase its takeover offer bid for British Consultancy Axon. In late September smaller rival HCL Technologies offered 650 pence per share on Axon, trumping Infosys' 600 pence a share offer in August.

Infosys announced its quartelry profit of a 30.2 per cent jump, helped by a weaker rupee, beating market forecasts. Infosys said July-September consolidated net profit rose to 14.32 billion rupees ($291 million) from 11 billion rupees a year ago. Infosys has a net profit of 13.99 billion rupees which has ABN AMRO, Goldman Sachs and Philips Electronics among its clients.
12:54 PM 10/10/2008

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