iGate - Patni Deal Off?

January 2nd, 2011
in News

Reuters:  U.S. software company iGate (IGTE.O) said it canceled a press conference it had scheduled for Monday, at which it was expected to announce a deal with Apax Partners for a majority stake in India's Patni Computer Services (PTNI.BO) for more than $900 million.

Follow up:

"The significant corporate development that was set to be announced on Monday is off," an iGate spokesman said, declining to provide further details.Read more at Reuters......

The spokesman did not confirm whether the announcement was related to Patni, but a source close to the matter told Reuters on Friday that the press conference was scheduled to announce the deal.

Apax Partners and Patni Computer were not immediately available for a comment.

A consortium of Apax Partners and iGate was close to buying 63 percent of Patni Computer at about 500 rupees a share, the source had told Reuters recently. An expected deal for Patni had also been widely reported in the media. 









Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.















 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved