BackInfosys unaware of HCL’s rival bid for Axon
Infosys unaware of HCL’s rival bid for Axon
PremiumSingapore: Infosys Technologies Ltd, India’s second-largest software services exporter, said it was confident its bid for Britain’s Axon Group would succeed and there was no rival bid on the table at the moment.
“We are confident that our bid will go through, because we believe it is a fair valuation, and we have got the support from the board and management of Axon," Chief Executive S Gopalakrishnan told in an interview on the sidelines of the Forbes Global CEO conference in Singapore.
“As for any rival bids, nothing officially has been communicated to us at this point. We expect the (acquisition) process to be completed by the end of November."
On Tuesday, local Economic Times reported that Indian outsourcer HCL Technologies plans to bid for Axon, offering 15% more than bigger rival Infosys.
Last month, Nasdaq-listed Infosys said it had agreed to buy Axon for $753 million, valuing the firm at 600 pence a share.
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