Satyam board in favour of 31% open offer: Srcs

The Satyam board is leaning towards an above 31% open offer sources. The company may look at preference issue if the buyer fails to get 20% in open offer. It is undecided on whether the first, second preference issue will have same pricing. The board, sources said, are still undecided on IT experience, but are in favour of managerial capability as criteria for bidders. Potential bidders will not get information on individual clients but will get aggregate information about orders, verticalised client mix, and geographies. It expects to send detail details of Expression of Interest to the Company Law Board on Friday. The board is likely to ask for the bidder to share strategic vision for Satyam. Sources added that there are differing views on how to protect minority shareholders.