Axon investors approve HCL Technologies buyout deal

by Editor 11/26/2008 3:15:00 PM
Shareholders of the British SAP consulting firm Axon approved the acquisition of their firm by the Indian IT services giant HCL Technologies at an ‘extraordinary general meeting’ (EGM) in London on Monday.

HCL Technologies chief executive Vineet Nayar said: “Axon investors by majority (99.9 percent) accepted our cash offer of 650 pence ($9.78) per share. The deal will be finalised after the court approval December 15.”

On December 15, Axon will also hold its general meeting to endorse the court approval and finalise the acquisition.

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