Satyam Fraud Resolution | Bid Winner Tech Mahindra

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1. Satyam fraud drama comes to a crucial stage with Tech Mahindra having won the bid to take over Satyam. Tech Mahindra has bid for Satyam at Rs 58/share while L&T bid at Rs 49.50/share.

2. Tech Mahindra will be paying a sum of Rs 1757 crore for 31% at Rs 58/share and consequential to that Tech Mahindra stock has surged by 24% which means that market has welcomed Tech Mahindra taking over ailing Satyam.

3. It is in the interest of Satyam that Tech Mahindra has taken over the company as Tech Mahindra has a better footprint and a lot of synergies with Satyam. Mr Som Mittal, president of Nasscom has expressed his happiness that bidding process has been successfully finished with in a span of 3 months and the management definetely deserves kudos for the same as it atleast restores world community faith back in Satyam.

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