Key notes from the Satyam BD Press conference

• Wilber Ross bid was around 20.00/sh

• New management will decide if they want to keep the same brand name or merge the entity.


• By next Tuesday (April 20th 2009) the deal would freeze after the money has been transferred to escrow account and the nod from CLB (Company law board)

• Employee strength of satyam is around 48000 at the moment out of satyam’s own strength is around 43000 and the rest is of contractors or allied companies


• The actual financial account status was discussed in great detail with the three bidders and it is up to them if they wish to share the same with the shareholders L & T bid was around $45/share

L&T to hold on to Satyam stake as their shares are in a lock in period of 6 months