Satyam in talks with HCL Tech for merger

Satyam Computer Services’ management and some of its institutional investors are exploring a merger with another software company amid the threat of a hostile takeover by a domestic or overseas company, according to reports. The company is reportedly in talks with Delhi-based HCL Technologies and Bangalore-based MindTree. HCL, with whom discussions are on for a cash-less merger, seems to be the frontrunner. However, in recent development, MindTree has denied involvement in merger talks with Satyam, reports stated. The merger strategy has been approved by DSP Merrill Lynch, which is advising the Satyam management on strategic options.