BANGALORE,INDIA: Infosys Technologies, India's second-largest software services exporter, on Friday said it would not increase its takeover offer bid for British Consultancy Axon. Infosys in its statement said, "On September 26, 2008, the Axon Board informed the Company of a potential competing offer for Axon at 650 pence per share (including the Interim Dividend). Subsequently, the Axon Board announced the withdrawal of its recommendation of Infosys' offer and its intent to unanimously recommend the higher offer when made." After careful consideration, the Board of Infosys has concluded that it will not increase the price of its original offer dated August 25, 2008, said the company. Infosys has a fast-growing and profitable SAP-led business transformation practice. The Company is confident that its decision will have no material impact on its strategic plans, statement said. In late September smaller rival HCL Technologies offered 650 pence per share on Axon, trumping Infosys' 600 pence a share offer in August.
What is your reflection on the aquisition war between two IT giants?
Meet the top Decision makers of Large enterprises from the 18th to 20th Feb '09
Explore the partnership options now
When budgets are slashed but the targets are not, you need greater ROI. Take a look at this special advertising offer from CIOL.
know more
