The battle for takeover of Patni has taken another turn, with the PE firms earlier interested in taking a stake in the company are now reluctant to do so.

The CEO and eldest brother, Narendra Patni is not willing to dilute his 14% stake and has the right of first refusal in case of a hostile takeover,

So, it seems that the deal may only go through if a strategic investor having software expertise takes a stake in the company rather than PE investor who is just a financial investor. [via]

You may also like:

  1. Patni takeover – more players join the fray
  2. Patni Computer family battle may lead to new partner
  3. Bharti Airtel following ICICI Bank tune, Singapore arms picking more stake
  4. Bharti Group increases stake in Airtel
  5. Tata exploring takeover talks with Ford