The Hindu Business Line : Satyam bid winner announcement by Apr 13: Parekh

MUMBAI: The Satyam Board has extended the final date for submission of bids for acquiring up to 51 per cent stake in the company to April 13 and expects to announce the name of the winner on the same evening, member of the government-appointed board Mr D eepak Parekh said.

“We met bidders yesterday and they requested for an extension of the date. They wanted more information about the company and hence the extension,” Mr Parekh said.

The Board will be supplying them with the information “today or tomorrow,” Mr Parekh said adding that “the name of the winner will be announced by April 13.” Satyam's government-appointed Board had earlier fixed April 9 as the deadline for interested pa rties to submit their bids.

Satyam's Board members met with potential bidders yesterday at a meeting in the metropolis which was also attended by the company's newly-appointed CEO Mr A S Murty and investment bankers Goldman Sachs and Avendus.

While the names of all the bidders have not been disclosed, engineering major Larsen & Toubro and Tech Mahindra are prime contenders for the Hyderabad-based IT major. - PTI

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