Tech Mahindra extends open offer for Satyam till 9 June

05 June 2009

Tech Mahindra, which made an open offer for 20 per cent additional stake in Satyam Computer Services following its acquisition of a 31 per cent stake in the fraud-hit IT firm, has extended the open offer period till 9 June.

A filing with the Bombay Stock Exchange (BSE) by Kotak Mahindra Capital Company Ltd, manager to the offer, said the last date by which the letter of offer will be dispatched to the shareholders has been revised to 9 June, from the earlier date of 3 June, and that the last date of withdrawal by shareholders has also been revised to 26 June from the earlier 27 June.

''The last date by which the letter of offer will be dispatched to the shareholders has been revised to 9 June 2009 from the earlier scheduled date of 3 June 2009,'' Kotak Mahindra Capital Company Ltd, manager to the offer, said in a filing.

''Further, the last date of withdrawal by shareholders has also been revised to 26 June 2009 from the earlier scheduled date 27 June 2009. Dates for all other activities of the schedule remains unchanged,'' it said.

"Dates for all other activities of the schedule remains unchanged," the filing added.

On 22 April,Tech Mahindra, through its acquisition vehicle Venturbay Consultant, had made an open offer to shareholders of Satyam Computer Services to purchase 20 per cent additional stake in the company for a total of Rs1,154 crore.