Satyam board is leaning towards 31% plus open offer, reports CNBC-TV18 quoting sources. There are differing views on how to protect the minority shareholders. If acquirer fails to get 20% in open offer, then the company may look at issuing additional pref equity.
Sources said that it is undecided on if the first, second preference issue will have same pricing. Satyam board is still undecided on IT experience as a criteria for bidders. Satyam board is in favour of managerial capability as a criteria for bidder. The potential bidders will not get information on individual clients. However, they will get aggregate information about orders, verticalised client mix and geographies.
Satyam board is expected to send details of EOI to CLB on Friday, sources added.
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