News: Mahindra Satyam, Tech Mahindra get court nod for merger

C-Suite

Mahindra Satyam, Tech Mahindra get court nod for merger

The Andhra Pradesh high court on Tuesday endorsed the merger of software services firms Satyam Computer Services Ltd and Tech Mahindra Ltd, removing the final hurdle in the union of the two companies that will produce the sixth largest entity in India’s information technology (IT) industry, Mint reported.

The Andhra Pradesh high court on Tuesday endorsed the merger of software services firms Satyam Computer Services Ltd and Tech Mahindra Ltd, removing the final hurdle in the union of the two companies that will produce the sixth largest entity in India’s information technology (IT) industry, Mint reported.

The ruling ends a 8-month-long legal battle waged by parties that claimed to be unsecured creditors and a clutch of minority shareholders of Satyam who challenged the company’s merger with Tech Mahindra, which bought the Hyderabad-based firm in April 2009 at an auction overseen by government-appointed directors.

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Topics: C-Suite, #Updates, #MergersAndAcquisitions

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