Word: deal
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...However, the fate of the embattled I.T. company will not be known until accounts are restated and the new owners have had time to complete the acquisition. "It would not be wrong to say the deal could still blow up in the buyer's face," says Kumar. "The action will take a few more months to unfold...
...Satyam for $352 million, a 23% premium to Satyam's last closing price on Thursday. Tech Mahindra plans to make a public offer to acquire 20% more of Satyam shares to gain a majority stake, as required by Indian law, taking the cost of the deal to $580 billion. (Read TIME's 2006 cover story about telecommunications in India...
...India's Spice Group, withdrew because of the uncertainties. "It's a very risky bet," says New Delhi-based equities analyst Dhirendra Kumar. "The reward or penalization could match the risk." Tech Mahindra has yet to issue a comment, but Satyam has said in a statement that the deal 'signals a new stage for the company.' (See pictures of the global financial crisis...
...goes well, the deal could propel Tech Mahindra into the top tier in Indian software services. Satyam's client base, which includes Cisco Systems and Nestle SA, would reduce the company's heavy reliance on British Telecom, its biggest customer. The markets gave the purchase a thumbs-up. Tech Mahindra shares were up 12% at the end of trading Monday, while Satyam shares were up 3%. Also applauding the deal were India's business groups. "The smooth completion of the bidding process for Satyam demonstrates that India has an adequate legal and institutional mechanism for handling and resolving a major...
Other Defense contracts have resulted in commercial ships getting some extra-special defense. Maersk (the owner of the Alabama, whose captain was rescued Sunday) won a deal last November to transport naval jet fuel from South Korea to the Indian Ocean in a 856-foot tanker, the Maersk Rhode Island. A 12-strong Force Protection team was tapped to travel on that. Involved in prepo for decades, the Norfolk, VA-based shipper last January also won a deal estimated at $316 million to deliver defense equipment, mail and PX merchandise globally...