Mindtree promoters oppose hostile takeover bid by L&T
Mindtree promoters said that they oppose the hostile takeover bid of the IT services by engineering giant Larsen and Toubro. On Monday, L&T signed a deal to acquire 20.3% shares of its lead investor V G Siddhartha and plans to increase stake to 66.3% through a combination of open offer and buying shares in the market. L&T is offering Rs 980 per share. On Wednesday, Mindtree board is expected to announce a share buyback.
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