In a notification to the Bombay Stock Exchange today, EDS has said that the proposed merger is pursuant to a merger under and in accordance with the laws of Delaware, USA and therefore even if the proposed merger is consummated, HP and EDS need not make an open offer for the shares of MphasiS under the provisions of the Securities and Exchange Board of India (substantial acquisition of shares and takeovers) Regulations, 1997.
The recent reports in a section of the press had said that if the proposed merge is consummated, HP may be required to make an open offer for shares of MphasiS Limited.
