Satyam board meets to assess bidders

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Satyam board meets
Hyderabad, Mar 20: The Satyam board met on Friday, Mar 20 to assess the proposals of the bidders for acquiring up to 51pc 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 and 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 31pc 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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