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HCL Tech counters Infosys’ Axon bid

HCL Tech counters Infosys’ Axon bid
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First Published: Tue, Sep 09 2008. 10 48 AM IST
Updated: Tue, Sep 09 2008. 10 48 AM IST
Mumbai: Indian outsourcer HCL Technologies plans to bid for British consultancy Axon, offering 15% more than bigger rival Infosys Technologies’ bid, the Economic Times daily reported on Tuesday.
HCL plans to offer around 690 pence a share for Axon in the next two weeks, bettering Infosys $753 million or 600 pence a share offer late last month, the newspaper said citing unidentified people involved in the discussions.
“We have a policy of not commenting on speculation and, hence, I will not be able to answer,” the paper quoted a HCL official as saying.
Infosys had earlier said it was better positioned than others to acquire Axon because it had management backing.
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First Published: Tue, Sep 09 2008. 10 48 AM IST
More Topics: HCL Technologies | Axon | Infosys | bid | Shares |