Satyam and Tech Mahindra to merge in $1.8 billion deal
Tech Mahindra Ltd, an Indian software developer backed by BT Group Plc, will buy Satyam Computer Services Ltd in a deal that values the target at $1.8 billion.
Tech Mahindra, which already owns 43 percent of Satyam, will swap two of its shares for every 17 held by the company’s other shareholders, according to a statement today. The deal will merge the once-troubled company into itself in a deal which could wipe out Tech Mahindra’s entire debt and create a company with a market value of nearly $3.4 billion.
Tags:
Read more: Satyam and Tech Mahindra to merge in $1.8 billion deal
Story added 21. March 2012, content source with full text you can find at link above.