Satyam Computer Services Ltd. (fka SAYCY)

[mcmorlod3]

News for 'SAY' - (DJ Satyam Bd Member: Seven Suitors Interested in Acquiring Co)

MUMBAI (Dow Jones)--Satyam Computer Services Ltd. (500376.BY) has been approached by at least four suitors - including firms and private equity players - the Press Trust of India reported Thursday, citing a board member.

"So far we are aware of four (companies that have approached Satyam Computer). But we have heard that another two or three firms are also interested," Tarun Das was quoted as saying.

Investment bankers are talking to potential suitors and evaluating proposals before getting back to the board, Das said, adding that the process is likely to take six weeks to complete.

Earlier this week, the Satyam board appointed Goldman Sachs (GS) and Avendus Capital as investment bankers and mandated Boston Consulting Group (BCG) to act as its management adviser.

In another report, the Press Trust of India said that the Andhra Pradesh High Court adjourned for Friday the hearing of a writ petition filed by the Securities and Exchange Board of India to question Satyam founder B.Ramalinga Raju.

Last week, an additional chief metropolitan magistrate had rejected the SEBI's plea to take Ramalinga Raju and his brother Rama Raju into custody for a day for interrogation.

The report said that the magistrate also reserved orders on the bail petitions of sacked Price Waterhouse representatives S. Goapalakrishnan and Srinivas Talluri for Feb. 2.

Price Waterhouse has edited Satyam's accounts for the past several years.

-By Mumbai bureau, Dow Jones Newswires; 91 22 2288 4212; [e-mail]

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(END) Dow Jones Newswires

January 29, 2009 05:55 ET (10:55 GMT)

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