I have 400 shares of sattyam . what should i do . should i sell on 9th if so what rate i can expect
Stage is all set for stake sale in Satyam Computers, for which, financial bids will be submitted by the potential acquirers by Monday, 13th April. This date was earlier at 9th April, which got extended after L&T and Tech Mahindra sought additional information, to enable them to prepare the bids.
There has been speculation that IBM has pulled out of the race, on fears of 13 US Class Action Suits, filed against Satyam in courts by ADR holders. IBM which had stated Infosys, Wipro and Satyam as its main competitors in its Annual Report, which was filed with NYSE in Feb. 09, finds Satyam , a fit company to acquire, which they have been eyeing for quite sometime. Earlier, Raju had stated that Satyam is a hostile take-over target of IBM, due to low promoter stake and hence the Satyam needs to utilise its idle cash of Rs. 5,000 crores lying in its books. Even IBM had carried out due diligence inspite ...more