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  • Satyam Denies Merger Rumors
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  • By CXOtoday Staff, Jan 06, 2009 1539 hrs IST
  • Tags : Tech Mahidra, Satyam, MindTree, merger rumors


  • In a release issued to the BSE today, Satyam has denied any truth in reports of Tech Mahindra's offer to merge with the company. There were reports earlier of HP, IBM, and MindTree evincing interest in Satyam.



    Satyam has come under a lot of flak in recent weeks. Ever since questions were raised about the failed Maytas deals, the company has been in the eye of the storm. It has seen three independent directors resign within a span of days, following the shock resignation of Mangalam Srinivasan, along with reports of investors getting more and more vocal in support of a merger.


    Earlier the company had announced that it has scheduled a board meeting on 10th of this month, where these issues are sure to be taken up in a bid to find a solution



    Related links:
    Satyam Calls Off Maytas Deal
    Upaid to Sue Satyam in Texas




  • by chanakya on Jan 07, 2009 12:56 PM 
    The board needs to be thrown overboard, and a new one constituted under the aegis of the MoF, RBI, SEBI and RoC. Raju has lost mandate to manage the company and its vast financial resources. He has amply and irrevocably proved his dishonesty.
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