Tuesday, March 31, 2009

Satyam Computer set to be sold before India election

FT reports the caretaker board of SAY expects to sell the company by mid-April -- just before the country's general election -- in one of the most unusual transactions ever witnessed in the mergers and acquisitions business. Bidders for co are being warned that there are no reliable financial accounts available for the company and that they must come up with their own assessment of the potential liability from shareholder suits. "We have been telling people there's going to be nothing available on that front,

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