It is now for Axon to take a call on whether to consider the HCL bid or stay with the Infosys bid. Infy sources said they need not stick to the 60 hour timeline. Infosys has a lot of time to bid further, said a source.
This deal doesnt look like a traditional auction process. Since there seems to be parallel dialogues going on between the two parties, the shareholders will weigh the merits of both the companies before deciding on one, said an analyst. But sources feel Infosys will make a counter-offer at least once though it will avoid getting into a fierce bidding battle.