TITLE

Satyam Stake Sale Approved

AUTHOR(S)
Davis, Avram
PUB. DATE
March 2009
SOURCE
Mergers & Acquisitions Report;3/16/2009, Vol. 22 Issue 11, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the decision of India-based consulting company Satyam Computer Services to commence a bidding process to sell a 51 percent of the company after it was given regulatory approval by the country's Securities and Exchange Board in March 2009. The admission by founder and chairman B. Ramalinga Raju that he inflated profits and understated liabilities in the past is said to have damaged the company. Satyam's share price fell to 1.46 dollars from 1.57 dollars on March 13, 2009.
ACCESSION #
44127964

 

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