(By Anthony Miller) The bizarre attempt by Indian SI Satyam’s founding chairman to apparently rescue his family’s property and infrastructure companies by merging them into the offshore IT services business almost defies comment. According to the company, the deal aimed to diversify Satyam away from IT services and so de-risk the business. It appears the company did not consult investors prior to Tuesday’s announcement and, not surprisingly, they voted with their portfolios, sending Satyam’s stock crashing 50%. Now the company has ditched the deal and wants to kiss and make up with investors using share buybacks and higher dividends. I didn’t see any mention of changing management, surely the only appropriate action under these circumstances.