Satyam gets takeover offers

BANGALORE, INDIA: The fraud hit software exporter Satyam Computer Services today announced that it has been receiving takeover offers.

The  IT company's board member Tarun Das said that Satyam has been receiving take over offers from domestic and foreign companies.

The board would meet for two days starting January 22 in Hyderabad and would discuss on issues such as search CEO and CFO, legal matters and immediate cash requirements to run the company, he told reporters in the capital.

As per the media reports , the board would also discuss whether it needs to ask the government to stand as a guarantor for raising loans.

Das said the company has been approached for buyouts by both international and Indian IT firms.

The sources stated that board meeting would deliberate on class action lawsuits filed against the company in the US.