IT major Tech Mahindra, on Tuesday, said a board meeting would be held on Wednesday to consider Mahindra Satyam's merger with itself.
Mahindra Satyam, erstwhile Satyam Computer Services, in a separate filing with the Bombay Stock Exchange also said that the amalgamation would be considered in a board meeting on Wednesday.
“Meeting of the board of directors of the company will be held on March 21...to consider the amalgamation of Satyam Computer Services (Mahindra Satyam) with the company...with a view to consolidating the information technology/software and related businesses and to form a single entity providing services in this sector,” Tech Mahindra said in a filing with the BSE.
Tech Mahindra took over reins of the company in April, 2009, and rebranded it as Mahindra Satyam.
Shares of TechM closed at Rs.645.35, up 5.13 per cent over the previous close and shares of Satyam closed at Rs.74. 15, up 4.66 per cent.
Keywords: Satyam-Mahindra merger