Satyam to mull on buyout offers, decision soon

Others in the fray are several IT services providers like HCL Technologies and Patni Computer Systems; BPOs like Aegis BPO (the back office unit of Essar Group), Genpact, IBM Daksh and Quatrro Solutions; and private equity funds such as Texas Pacific Group (TPG), General Atlantic Partners, 3i, The Blackstone Group and Kohlberg Kravis Roberts (KKR).

According to market analysts, it was not surprising to find so many suitors line up outside Satyam's door as Satyam is a good acquisition target, especially at its prevailing stock price, despite reputation risks.

"Anybody and everybody would have some or the other plan for Satyam because it is in big-time trouble and available at dirt-cheap valuations," said Harshad Deshpande, analyst at Mumbai-based Ambit Capital Pvt. "What is important is they need to provide right leadership, they need to have genuine interest."

"At this level, Satyam is an interesting candidate for takeover because fundamentally it's a strong company," said Harit Shah, sector analyst with Angel Broking.

"Valuations are cheap," Shah said, adding that any takeover move would give instant access to a company with a good set of clients such as General Electric and Qantas Airways, and a well trained workforce.

"It's easy for any acquirer with deep pockets to mount a takeover of the IT company. Given its weak reputation, I don't think other shareholders will object," said independent broker Pawan Dharnidharka.