Satyam board rejects Low bids

The Satyam bidding process can be ended on Monday,there is no winner in this situation.Board members has rights to reject all low priced bids(below expected).An officials involved in the Sale process.The board also told that rejects if its price doesn't meet our expectations.

They told it may be wrong to view as a distress sale and the board members are not willing to sell with low price.Now we are expected to sale with our expected price and its share holders.There are four bidders in the Satyam bidding process -- L & T, Tech Mahindra, Wilbur Ross Associates and CTS (Cognizant).There may be 3 bids only receive on Monday with Wilbur Ross and CTS are likely to joint in the bidding process.No proper official confirmation from any bidders now.

Satyam staff updated the real time information which leads to data room kept open till sunday evening.Full disclosure prepared for every thing and answers for all queries from the bidders.

Finally Satyam got a new line by Tech Mahindra.Among these three bidders, Tech Mahindra bids Rs 58 per share and takes 31% market share in the cash dealing.Finally they pays Rs.1,756 crore to buy 31 percent share in the Company.Tech Mahindra won the Satyam Computers