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Aug 30, 2011, 06.13 PM | Source: CNBC-TV18

Mah Satyam-Tech Mah to appoint bankers to fasten merger

The merger process of Mahindra Satyam and Tech Mahindra is soon gathering steam. It is on the look out to appoint bankers to finalise the merger details. However, the tussle with the taxman may play spoiltsport, reports CNBC-TV18 quoting sources.

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Mah Satyam-Tech Mah to appoint bankers to fasten merger

The merger process of Mahindra Satyam and Tech Mahindra is soon gathering steam. It is on the look out to appoint bankers to finalise the merger details. However, the tussle with the taxman may play spoiltsport, reports CNBC-TV18 quoting sources.

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Kritika Saxena (more)

Reporter, CNBC-TV18 |

The merger process of Mahindra Satyam and Tech Mahindra is soon gathering steam. It is on the look out to appoint bankers to finalise the merger details. However, the tussle with the taxman may play spoiltsport, reports CNBC-TV18's Kritika Saxena quoting sources.

It is learnt that legal advice has been sought to settle tax issue with govt before merger. The company is in talks to negotiate tax settlement but may even push the merger process to January if the tax case is not settled. The companies have to meet the deadline of October 2011 to begin the merger proceedings.

However, calling it a market speculation, Mahindra Satyam has refused to comment at this development.

Mahindra Satyam had two tax cases pending with the taxmen claiming over Rs 2700 crore for both.

Also watch the accompanying video.
 

Mahindra Satyam stock price

On July 03, -, Mahindra Satyam closed at Rs 115.30, up Rs 0.00, or 0.00 percent. The 52-week high of the share was Rs and the 52-week low was Rs .


The company's trailing 12-month (TTM) EPS was at Rs 7.66 per share as per the quarter ended March 2013. The stock's price-to-earnings (P/E) ratio was 15.05. The latest book value of the company is Rs 28.15 per share. At current value, the price-to-book value of the company is 4.10.

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