Asia Bizz : Mahindra To Announce Merger With Satyam By 2-3 Weeks
India’s major vehicle production company, Mahindra, will be announcing its merger with the scandalous Satyam Company by 2-3 weeks. Mahindra’s IT branch, Tech Mahindra Ltd. will be the branch that would merge with Satyam in a couple of weeks. The company officials have stated that the merger will be taking some time, especially the High Court approvals and other legal work.
The company said that the time has finally come to acquire Satyam, as of last year the formation of Mahindra Satyam did take place and now Tech Mahindra will be completely acquiring the Satyam group. The Satyam info-tech group was shrouded is serious scandals in the last couple of years, but as Mahindra has shown its acquisition interest, Mahindra has said that it will be doing well soon enough.
Mahindra is looking forward to the increase its financial earnings by next year after its acquisition of Satyam. For the moment it is not known about the amount of which Mahindra will be acquiring Satyam, but many customers are looking forward to this acquisition.