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]
Find this article at: http://www.labnol.org/india/corporate/patni-takeover-update-pe-firms-vary-of-taking-stake/441/
web: http://www.labnol.org/ email: amit@labnol.org
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