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.
Originally posted on IBNLive.com