Sam Palmisano, the Chairman of Big Blue is now in India’s silicon capital. However, his Plano (Texas)-based global competitor EDS is reported to have sailed through with its proposed acquisition of majority stake in the Bangalore-based Mphasis BFL.
The EDS open offer was concomitant on the fact that the company receives 52% stake in the Indian entity.
The offer was for 83 million shares, which would have costed the Plano-based, IT giant around $380 million. The offer price was pegged at Rs.204.50 per share in Indian rupees.
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