Tech Mahindra Wins Race For Satyam Computer

Tech Mahindra won the bid for India's fourth largest software exporter Satyam Computer. Satyam's new board of directors chose Tech Mahindra following its bid of Rs 1,757 crore for 31 per cent stake in the scam-tainted IT giant, Tech Mahindra offered Rs 58 for each Satyam share.

Larsen and Toubro (L&T) and private-equity firm WL Ross were among the other major contenders for the Hyderabad-headquartered Satyam but L&T already holds 12.04 per cent stake in Satyam.

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