Tech Mahindra gets US anti-trust nod for Satyam offer

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Tech Mahindra gets US anti-trust nod for Satyam offer

A statement said the condition to the offer with respect to anti-trust approval under the Hart-Scott-Rodino Act has been satisfied

Thursday, June 18, 2009

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MUMBAI, INDIA: IT firm Tech Mahindra, which has got a controlling stake in fraud-hit Satyam Computer Services said that it has received approval from the US anti-trust authority regarding its Rs 1,154 crore open offer for the purchase of an additional 20 per cent stake in Satyam Computer.

"Our request for early termination of the applicable waiting period relating to the offer has been granted under the Hart-Scott-Rodino Antitrust Improvements Act of 1976," Tech Mahindra said in a filing to the Bombay Stock Exchange.

The statement said that "the condition to the offer with respect to anti-trust approval under the Hart-Scott-Rodino Act has been satisfied."

Satyam and Tech Mahindra needed the anti-trust approval in the US, as both the companies have outsourcing work in that country.

The open offer, which started on June 12, will close on July 1.

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