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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

    Dec 20, 2013
    Likes Received:
    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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