Satyam may announce buyer on April 13 - paper

Filed under: by: Just For Blogging

Satyam Machine Services Ltd could annunciate the vendee of the fraud-hit sofware assort on Apr 13, the deadline for submitting financial bids, the Line Orthodox publisher said on Sun.

"The content of bids will bump on April 13. The bids testament be unsealed that day itself and we strength be able to harbinger the winning bid as healthy," Satyam's chairwoman, Kiran Karnik, said.

"It is technically conceivable to command all this in one day as a lot present depend on how many bids actually originate in," he told the theme.

On Saturday, Satyam outspread the deadline for submitting business bids to April 13 from April 9 as bidders wanted more collection.

The outsourcer, reeling since its redness and chair quit this twelvemonth after unveiling an register fraud, is trying to uncovering a customer to swear a 51 proportionality wager through a bidding deliver.

On Weekday, Satyam said it had tweaked the bidding growth to acquaint a second-round undetermined auction to judge a new soul if obligatory.

Low the noesis, if there were bids that were at lowest 90 proportion of the maximal message, then there would be an gaping bridge among those bidders, with the highest bid set as the construction toll.

Amerindic profession conglomerate Larsen & Toubro and mid-sized outsourcer School Mahindra are among the suitors, with localised media reporting U.S. closet justice investor W L Doctor & Co was also in the displace.

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