Axon drops Infosys bid in favour of HCL
LONDON |
LONDON Oct 2 (Reuters) - British software company Axon Group Plc AXO.L said on Thursday it was withdrawing its recommendation of a takeover bid from India's Infosys Technologies (INFY.BO) in favour of a higher offer from HCL Technologies (HCLT.BO).
Infosys' 407 million pound ($725.6 million) bid for Axon was last week trumped by local rival HCL's cash offer of 441.1 million pounds. (Reporting by Victoria Bryan; Editing by Erica Billingham)
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