Satyam for a song

The response to SEBI new watered down take over code for troubled company seems lukewarm. Yes. I am talking Satyam. Partically SEBI is removed the biggest stumbling block and a potential
disaster for prospectiv suitors.

But SEBI was smart. The riders are simple & cannot be cited as precedent for future hostile attempts. The exemption for open public offer applies only for listed companies which have a goverment board superceding the original board of directors. ( Maytas board is not superceded and
both CLB & SEBI refused to do so. BTW Maytas is nothing but S-A-T-Y-A-M spelt backwards )

Still there are very few takers. The pre condition that bidders should have a min networth of $ 150 m prunes the list substantially. The present financial market condition is not condusive to raising the required funds. The market conditions in US , EU and in general in the west and Japan particularly in the BIFS segment is not very promising. Nothing seems work in favour of Satyam and that a bonanza for the final winner.
The billion dollar question ofcourse is what is the contigent liability for the numerous class action suits pending in US