Infosys urges Axon shareholders not to go for HCL bid (Lead)

September 27th, 2008 - 1:25 am ICT by IANS  

Bangalore, Sep 26 (IANS) IT bellwether Infosys Technologies Ltd urged Axon shareholders not to take any immediate action in response to a counter bid by HCL Technologies to rival its 600 pence a share offer to buy the British-based SAP specialist, the company said in a statement late Friday.“Infosys notes the announcement made earlier today by HCL Technologies. Infosys is considering its position and urges Axon shareholders to take no action at this time,” the statement said.

The company also said it would make a further announcement in due course.

The Bangalore-based global software major announced Aug 25 that it intended to buy Axon for 407 million pounds.

The New Delhi-based HCL has made a counter bid, offering to pay 650 pence per share.

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