Infosys in no hurry to outbid HCL for Axon

October 3rd, 2008 - 9:00 pm ICT by IANS  

Bangalore, Oct 3 (IANS) IT major Infosys Technologies Ltd does not seem to be in any hurry to make a higher offer than HCL Technologies to acquire UK-based SAP consultancy firm Axon Group, the company indicated Friday.”No decision yet,” Infosys chief executive officer Kris Gopalakrishnan told IANS when asked about the company’s plans following Axon management decision to withdraw recommendation to its shareholders to accept the Bangalore-based IT belweather’s offer of 407 million pounds in view of HCL’s 441 million pounds offer.

“Looking at our options,” Gopalakrishnan said on whether Infosys will match HCL’s offer or no more interested in acquiring Axon in view of the US financial crisis.

Infosys made its offer Aug 25 and HCL entered the scene with a higher offer on Sep 26. Axon board Thursday announced its decision to withdraw the recommendation on Infosys offer.

Infosys may firm up its plans for Axon after the board meeting here on Oct 10 to consider the company’s second quarter (July-September, 2008) results.

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