Tech Mahindra-Satyam to merge in November
September 29th, 2010 - 10:13 pm ICT by IANSHyderabad, Sep 29 (IANS) The merger of Satyam Mahindra with its parent firm Tech Mahindra will start after Nov 15 and is likely to be completed within a year, company chairman Vineet Nayyar said Wednesday.
“Before we start the merger process, the company has to be current in terms of its account. That will happen hopefully by Nov 15. Thereafter we will commence the procedure, which involves approaching the high courts of Andhra Pradesh and Maharashtra,” Nayyar told reporters.
He said after getting legal approval, the company would approach financial consultants and accountants to determine share value and swap ratios.
“Normally this process takes nine months to a year,” he added.
Tech Mahindra bought the fraud-hit Satyam Computer Services in April 2009 and renamed it Mahindra Satyam. It is operating as an independent company.
- Mahindra Satyam, Tech Mahindra merger likely in 8-9 months - Apr 24, 2012
- Mahindra Satyam's merger with Tech Mahindra next year - Nov 10, 2011
- Mahindra Satyam, Tech Mahindra Ltd merge - Mar 21, 2012
- Mahindra Satyam merger with Tech Mahindra likely next year - May 23, 2011
- Mahindra Satyam posts flat Q1, Q2 revenues (Lead) - Nov 16, 2010
- Mahindra Satyam-Tech Mahindra merger put on hold - Feb 14, 2011
- Stage set for Mahindra Satyam's merger - Mar 20, 2012
- Mahindra Satyam posts flat revenues in first two quarters - Nov 15, 2010
- IT department freezes accounts of Mahindra Satyam - Mar 22, 2011
- $10m US settlement in firm's interest, says Mahindra Satyam - Apr 06, 2011
- IT department freezes accounts of Mahindra Satyam (Lead) - Mar 22, 2011
- Tech Mahindra, Mahindra Satyam to merge (Lead) - Mar 21, 2012
- Two-fold jump in Mahindra Satyam's net profit - Aug 10, 2011
- Mahindra Satyam's net profit up by six percent - Nov 10, 2011
- Satyam Computer fraud now estimated at $1.75 billion - Sep 29, 2010
Tags: accountants, andhra pradesh, company chairman, financial consultants, fraud, high courts, hyderabad, independent company, legal approval, maharashtra, merger, nayyar, nine months, ratios, satyam computer services, share value, tech mahindra, vineet