Darlington Jose Hector, Bangalore
Financial Chronicle
HCL Technologies is inching close to wrapping up the Axon Group deal. It has informed the BSE that Axon group directors have entered into an undertaking with HCL EAS, a wholly owned subsidiary of HCL Technologies, to vote in favour of the takeover proposal.
The directors' beneficial holding is currently an aggregate of 147,420 Axon shares, representing approximately 0.2 percent of the existing issued share capital of Axon.
According to the HCL filing, the undertakings remain binding even if a higher offer is made by a third party but will cease to be binding on the withdrawal or lapse of the HCL scheme (offer).
HCL's offer of $810 million was recommended by the Axon board once it came up with the offer on September 26, edging out the Infosys offer of $753 million. Axon is expected to take up the voting on November 24.
0 comments:
Post a Comment