Satyam Board meets to evaluate bidders

The Satyam Board met today to evaluate the proposals of the suitors for acquiring up to 51 per cent stake in the crisis-ridden IT company among other issues. The government-appointed company board has received several expressions of interest, including those from engineering major Larsen & Toubro, B K Modi-led Spice Group, software firm Tech Mahindra and iGate.See special

The Satyam Board met on Friday to evaluate the proposals of the suitors for acquiring up to 51 per cent stake in the crisis-ridden IT company among other issues.

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A company official told PTI that meeting was underway.

The government-appointed company board has received several expressions of interest, including those from engineering major Larsen & Toubro, B K Modi-led Spice Group, software firm Tech Mahindra and iGate.

The winning bidder can acquire up to 31 per cent stake in the company. Upon successful completion of the process, the partner can purchase additional 20 per cent through an open offer.