Home > business > IBM joins Satyam bidding race, 8 players in field now

IBM joins Satyam bidding race, 8 players in field now

The board of Satyam Computer Services has shortlisted about eight bidders, including IBM and private equity firm Apax Partners, for buying the fraud-hit outsourcer, the Economic Times said on Thursday.

Indian engineering conglomerate Larsen & Toubro, Tech Mahindra and diversified Spice Group are among other selected bidders for a 51 percent stake, the newspaper said, citing unnamed sources.

US-based IBM has registered its interest through a law firm, it said.

The shortlisted bidders will do their due diligence of Satyam over the next two days, it said, quoting a person familiar with the development.

A spokeswoman for Satyam said the company would not make any comment on the bidding process.

Complete article

Originally posted on IBNLive.com

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