essar-to-buy-us-outsourcing-firm-peoplesupport

Essar to buy US outsourcing firm PeopleSupport

Indian business group Essar pays $250 million to combine the Nasdaq-listed business process outsourcing firm with its own outsourcing division Aegis.
August 05, 2008
IndiaÆs Essar Group is to buy Nasdaq-listed PeopleSupport, a business process outsourcing BPO firm headquartered in California, for $250 million. The acquisition will be executed by EssarÆs subsidiary Aegis BPO, which will merge PeopleSupport into its unlisted subsidiary Essar Services Mauritius.

PeopleSupport shareholders will be paid $12.25 per share in cash, representing a premium of around 29% over PeopleSupport's closing share price on August 1, the last trading day prior to the takeover announcement, and a premium of approximately 42% over the average trading price of PeopleSupportÆs shares during the previous 30 trading days.

PeopleSupport has no debt on its books. For calendar 2007 it had revenues...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222