Satyam ADR plummets 55% on Maytas deal
The Satyam ADR yesterday took a hard knock after the company announced its $1.6 bn Maytas acquisiton.
Despite a strong surge on the Wall Street, and other ADRs gaining significantly, the Satyam ADR plummeted 54.5% to $5.70 yesteday.
Earlier, the company's board approved to buy 51% in Maytas Infra and buy out of Maytas Properties in a $1.6 billion deal.