Tech Mahindra, Mahindra Satyam merge

March 21, 2012 11:53

The boards of Mahindra Satyam and Tech Mahindra today approved the merger of the two companies. "The board of directors of the company today approved the amalgamation of Mahindra Satyam with Tech Mahindra," both thecompanies said in separate filings to the BSE. The exchange ratio for the merger was pegged at 2:17 ratio, that is two shares of Tech Mahindra to be given for 17 shares of Mahindra Satyam, it said.Shareholders will get one share of Tech Mahindra for 8.5 shares of Satyam.

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