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Journalism of Courage
IT firm Tech Mahindra said it has received approval from the US anti-trust authority regarding its Rs 1,154 crore open offer for the purchase of an additional 20 per cent stake in Satyam Computer.
In a filing to the stock exchanges Tech Mahindra said 8220;our request for early termination of the applicable waiting period relating to the offer has been granted under the Hart-Scott-Rodino Antitrust Improvements Act of 19768230;8221;.
Tech Mahindra further said that 8220;the condition to the offer with respect to anti-trust approval under the Hart-Scott-Rodino Act has been satisfied.8221;
The anti-trust approval in the US was needed as both the companies 8212; Satyam and Tech Mahindra 8212; have technology outsourcing work in the United States,and also because Satyam is listed on the NYSE.
The open offer has already got anti-trust approval from Germany8217;s competition regulator,the Federal Cartel Office,and India8217;s tow premier bourses Bombay Stock Exchange and National Stock Exchange.
