Satyam open offer dates amended

IT firm Tech Mahindra has extended the date for approaching the shareholders of Satyam Computer regarding its Rs 1,154 crore open offer for the purchase of a 20 per cent stake in the scam-hit firm, a move which comes days after market regulator Sebi cleared the open offer.
Satyam Computer said the last date by which letter of offer will be dispatched to the shareholders has been revised to June 9, from the earlier scheduled date of June 3. Further, the last date of withdrawal by shareholders has also been revised to June 26, from the earlier June 27.
“Dates for all other activities of the schedule remains unchanged,” the company added.
Through Venturbay Consultant, its acquisition vehicle for the Satyam Computer purchase, Tech Mahindra had announced an open offer on April 22 for buying an additional 20 per cent from the shareholders of the IT firm.
Offer was made pursuant to Tech Mahindra buying a 31 per cent stake in Satyam.

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