Today's hot and latest news of Satyam give some what hapiness on the face of the share holder of Satyam. The news is that IT service provider Tech Mahindra won the bid on Satyam and be the new owner of this Satyam Computer Services. Tech Mahindra bid highest for this Satyam and the bid is 58 INR per share, and win the bid. Because there are three bidders name as Tech Mahindra, L&T and American investor Wilbur Ross .
According to the news I knew that L&T bid at 45.90 INR per share. And the American investor Wilbur Ross and Cognizant both have bid on Satyam of 20 per share for the fraud hit IT co.
Tech Mahindra will have to pay 1,757 crore INR to buy a 31% stake in Satyam. Services. The IT co will have a market cap of 5,666 crore INR on expanded equity.It means total 2890 crore Tech Mahindra have to pay for the 51% stack in Satyam.
The Satyam acquisition will help Tech Mahindra diversify its software services business, and compete aggressively with bigger rivals such as TCS, IBM, Infosys and Wipro. Satyam serves to customers GE, GM and Ford will be the helpful to the ech Mahindra build a better portfolio of customers. L&T, which has a 12% stake in Satyam, was front-runner to win the bid. L&T had offered Rs. 49.5 per share. However,Tech Mahindra beat all bids to emerge victorious.
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