On 16 October 2014
CMC announced that the Board of CMC and Tata Consultancy Services (TCS) have approved the amalgamation of CMC with TCS pursuant to and subject to the provision of Sections 391 to 394 of the Companies Act, 1956.As per the term of the scheme of amalgamation, shareholders of CMC will receive 79 equity shares of Re 1 each of TCS for 100 equity shares of Rs 10 each of CMC.
The Scheme is subject to Court, regulatory, shareholders and other necessary approvals.
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