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Shares swung between gains and losses in Japan and edged lower in Australia, with shortened sessions in Hong Kong and Sydney for Christmas Eve. US equity futures were little changed in Asia after a gauge of the Magnificent Seven technology megacaps rose 1.4% Monday, offsetting weaker-than-expected US consumer confidence data.
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Coforge and Cigniti Technologies are progressing towards a merger, with EY and Axis Capital preparing terms for shareholder approval. Coforge plans to absorb Cigniti, with shareholders receiving Coforge shares based on a determined swap ratio. Coforge's market value has doubled recently, and the acquisition aims to leverage synergy in client locations.
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The conglomerate recently gave Kotak Investment Banking officials the go-ahead to commence the process after a meeting, they said. It plans to appoint additional bankers by January, they added.
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News and Media
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