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Tech Mahindra pulls out of race to acquire Mphasis NIFTY

Discussion in 'Stock Market Discussions' started by raghav, Mar 10, 2016.

  1. raghav

    raghav New Member

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    Tech Mahindra has decided to pull out of the race for Mphasis to avoid a bidding war with other suitors. Tech Mahindra was till recently seen as a serious contender for Hewlett Packard’s 60.5 per cent stake in Mphasis in a deal worth over $1 billion. The main reason Tech Mahindra may have pulled out of the race could be the threat from Blackstone, an aggressive bidder. The PE firm has said it will invest $2.5-3 billion in India over the next five years.
     
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