US trying to bully i-flex shareholders
Feb 22, 2007
Mergers and Acquisitions, Stock Market
The US government appears to be “flexing” it’s muscles, trying to help Oracle Corporation as it attempts to increase its stake in Indian financial software solutions company i-flex solutions, the makers of the best selling banking product, Flexcube.
Some time ago, Oracle had increased its stake from 54.8% to 82.9%. The open offer ended in December 2006.
The US Govt wants it’s Indian counterpart to get the Indian shareholders to sell out to Oracle, but India has refused to interfere, saying that there was no law in India which made it mandatory for minority shareholders to tender their shares to a majority shareholder.
It seems quite incredulous, or should one say ridiculous, that the US should want to arm-twist India on this issue.
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