CMC to amalgamate with TCS
Tata Consultancy Services announces that the Board of Directors of the Company and CMC, a subsidiary of TCS, have approved the amalgamation of CMC with TCS pursuant to the provision of section 391 to 394 of the Companies Act, 1956.As per the terms of the Scheme of Amalgamation (Scheme), 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 swap ratio has been arrived at based on the valuation report prepared by B.S.R & Associates LLP.
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