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Satyam bid winner announcement by 13 April: Deepak Parekh

Satyam bid winner announcement by 13 April: Deepak Parekh
PTI
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First Published: Sat, Apr 04 2009. 03 31 PM IST
Updated: Sat, Apr 04 2009. 03 31 PM IST
Mumbai: “The Satyam Board has extended the final date for submission of bids for acquiring up to 51% stake in the company to 13 April and expects to announce the name of the winner on the same evening, member of the government-appointed board Deepak Parekh said.
“We met bidders yesterday and they requested for an extension of the date. They wanted more information about the company and hence the extension,” Parekh said.
The Board will be supplying them with the information today or tomorrow,” Parekh said adding that the name of the winner will be announced by 13 April.”
Satyam’s government-appointed Board had earlier fixed 9 April as the deadline for interested parties to submit their bids.
Satyam’s Board members met with potential bidders yesterday at a meeting in the metropolis which was also attended by the company’s newly-appointed CEO A.S. Murty and investment bankers Goldman Sachs and Avendus.
While the names of all the bidders have not been disclosed, engineering major Larsen & Toubro and Tech Mahindra are prime contenders for the Hyderabad-based IT major.
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First Published: Sat, Apr 04 2009. 03 31 PM IST
More Topics: Satyam | Bids | Stake | Government | Deepak Parekh |