EDS announces open offer for Mphasis BFL, to acquire another 20% stake

Citigroup Global Markets India Private Limited has made informed regarding the Public Announcement issued by Citigroup Global Markets India Private Limited ("Manager to the Offer", or "Citigroup") on behalf of TH Holdings (the "Acquirer") alongwith Electronic Data System Corporation ("EDS") as Person Acting in Concert with the Acquirer (the "PAC") pursuant to Regulation 11(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) regulation, 1997 and subsequent amendments thereto (the "SEBI(SAST) Regulations"). This voluntary open offer (the "Offer") is being made by the Acquirer along with the PAC pursuant to regulation 11(1) of the SEBI(SAST) Resgulations, to the shareholders of Mphasis BFL Limited ("Mphasis" the "Target Company"). This Offer is being been made to acquire 32,947,290 fully paid up equity shares ("Offer Size") of face value of Rs. 10/- each of the Target Company (each a "Share") which represents 20.0 % of the total voting equity share capital of the Target Company ("Share Capital") as on January 02, 2007, which is the date that is fifteen days from the closure of the Offer (the Offer Size as a percentage of the Share Capital assumes that all exercisable stock options issued by the Target Company to its employees will be exercised). The Offer is being made at a price of Rs. 204.50 (Rupees Two Hundred and Four and Fifty Paise) for each Share (such price, the "Offer Price"), to be paid in cash in accordance with the SEBI (SAST) Regulations, and is subject to the terms and conditions that will be set out in the letter of offer in relation to the Offer (the "Letter of Offer").

Schedule of Activities:

(1) Specified Date - October 20, 2006.

(2) Date of opening of the offer - November 27, 2006.

(3) Date of Closing of the offer - December 18, 2006.

Source : Equity Bulls

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