Larsen and Toubro (L&T), the engineering giant said that the company will go solo on its bid to acquire scam-hit Satyam Computer Services and has no plans to rope in a private equity partner for the joint bid, reports Business Standard.
The company denied any talk of discussion with private equity firms to jointly bid for Satyam Computer Services, calling it purely speculative.
This comes after reports that the engineering major was in talks with Blackstone, the Carlyle Group, Goldman Sachs and Temasek among others to jointly bid for Satyam.
The company also said that it had enough cash, about Rs 40 billion for Satyam Computer Services acquisition.
L&T, which submitted its expression of interest on March 12 for Satyam Computer Services buy, is the single largest stakeholder in the Hyderabad-based firm.
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