British consultancy major Axon Group on Thursday decided to go ahead with a 441-million pound acquisition offer from HCL Technologies, while withdrawing its support to a smaller bid from another Indian IT major Infosys.
Noting that the HCL offer is at a premium of 8.3 per cent to Infosys' bid, worth 407.1 million pounds, Axon said in a regulatory filing here that its board "has withdrawn its recommendation of the Infosys Offer and intends unanimously to recommend the HCL Offer when it is made".
When contacted, an Infosys spokesperson in India told PTI that the company was evaluating its options and would announce any further move at an appropriate time.
HCL officials said that they were confident of winning over the support of Axon board for its offer.
No comments:
Post a Comment