Mahindra Satyam is being penalised for picking up victim: CP Gurnani
A group of minority shareholders of Mahindra Satyam (formerly Satyam Computer Services) had filed a petition in the Andhra Pradesh high court opposing the proposed share-swap ratio, among other things, for merger with Tech Mahindra.
The petitioners have requested the court to revise the swap-ratio of 2:17, giving shareholders two Tech Mahindra shares for every 17 owned in Mahindra Satyam.
Mahindra Satyam's merger with Tech Mahindra has been cleared by the BSE and the National Stock Exchange. Competition watchdog Competition Commission of India (CCI) has also approved the proposed merger that when completed will create a USD 2.4 billion entity.
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