5 result(s) displayed (1 - 5 of 5):

Relief for Satyam; Tech Mahindra is highest bidder (from Corporate Dealmaker)

Tech Mahindra Ltd. emerged as the highest bidder for fraud-hit Indian IT outsourcer Satyam Computer Services Ltd. (NYSE:SAY). Tech Mahindra, which is jointly owned by Mahindra & Mahindra Ltd. and British Telecommunications plc, will buy a 31% stake in Satyam for $351 million.The offer of 58 rupees ($1.17) per share...

Posted on April 13, 2009 9:55 AM

BofA hiring Satyam staffers by hundreds? (from Corporate Dealmaker)

About 13,000 workers have abandoned fraud-hit IT outsourcer Satyam Computer Services Ltd. (NYSE:SAY) to join clients and other rivals, according to one report. And it looks like 250 to 300 of them are getting signing bonuses and salary increases as they join Bank of America Corp. (NYSE:BAC).The Business Standard...

Posted on April 2, 2009 11:44 AM

Fraud-hit Satyam approved for 51% sale, shares rise (from Corporate Dealmaker)

The Securities and Exchange Board of India, which recently eased takeover regulations, approved a majority sale of Satyam Computer Services Ltd. (NYSE:SAY), the subject of India's greatest corporate scandal. Buying into the IT outsourcer is tricky.On one hand you have an otherwise attractive company that had its $7 billion valuation...

Posted on March 6, 2009 9:04 AM

Fraud-hit Satyam cleared for auction (from Corporate Dealmaker)

Indian IT and BPO provider Satyam Computer Services Ltd. has received clearance from the Company Law Board to sell a 26% stake in the firm via an open bidding process. Goldman, Sachs & Co. and Avendus Capital Ltd. were brought on in January to find strategic investors. Satyam's $1 billion...

Posted on February 19, 2009 4:07 PM

What does Satyam fraud mean for FDI in India? (from Corporate Dealmaker)

On Dec. 30, when Satyam Computer Services Ltd. seemed merely troubled, we wondered whether strategic and private equity buyers would vie to put money into the Indian outsourcing and computer services company.Now that chairman B. Ramalinga Raju (pictured) has admitted that the company's balance sheet is a fabrication, it doesn't...

Posted on January 7, 2009 5:19 PM