24 Apr 2009,
NEW DELHI: Tech Mahindra, the new owners of the crisis-hit IT firm Satyam Computer, has clarified that the public announcement which it made to Satyam shareholders, urging them to wait till June 22 for the final price before tendering their shares, is one of many disclosures that an acquirer is expected to make under applicable law in a public announcement.
"This provision is not, however, an indication of our current intent to increase the offer price in the future and must not be construed in any other manner." it said in a statement.
Earlier, Tech Mahindra's announcement had generated speculation that it was considering a possible increase in its open offer price for Satyam.
"As the offer price cannot be revised during seven working days prior to the closure of the offer, it would, therefore, be in the interest of shareholders to wait until the commencement of that period to know the final offer price," PTI said, quoting Tech Mahindra.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment