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MINDTREE TAKEOVER
L&T boss AM Naik appointed as Mindtree non-executive ChairmanThe move follows the construction major acquiring over 60 per cent stake in the Bengaluru-based IT company.- L&T assures Mindtree shareholders of further impetus to long-term growthThis month, L&T became the new promoter of Mindtree after acquiring 60.06 per cent stake.
- L&T becomes Mindtree's promoter with 60.06% stakeL&T was holding 9,87,79,179 equity shares in Mindtree as of July 2, 2019.
- L&T bid may hit Mindtree Q1 numbers as clients defer dealsThe mid-tier IT services company grew 16 per cent in the fourth quarter.
- Mindtree independent directors term L&T takeover offer ‘fair and reasonable’L&T’s open offer to buy another 31 per cent stake in Mindtree will now open on June 17 and close on June 28.
- IT firm Mindtree at $1B revenue mark, to pay Rs 430 crore in dividendsMindtree said the special dividend payout would cost it about Rs 320 crore, excluding dividend distribution tax, while the remaining divide...
- Not a lost battle yet: With peace offer, a Mindtree co-founder hopes to turn the tideKrishnakumar Natarajan said Mindtree was open to reaching a 'middle ground' with L&T by way of a talk.
- Mindtree’s board likely to seek meeting with Larsen & ToubroMindtree’s independent directors have voiced their concerns about the board not having a “collective and informed stand” on what is seen as...
- Khalnayak nahi, Naik hoon main: L&T boss defends Mindtree takeover move“This is no hostile bid. The shareholder approached L&T first,—how can that be hostile ?" said L&T boss AM Naik.
- Why us, why don't you build your own IT firm: Mindtree's poser to L&TMindtree promoters have termed L&T's hostile bid as unprecedented and unexplainable.
- It may be end of the road for Mindtree promoters: Experts say no option leftThe Mindtree management has so far maintained that it would keep opposing ‘hostile’ takeover bid.
- We are not corporate raiders, says L&T CEOCoffee Day founder Siddhartha sold his entire 20.32% stake in Mindtree to L&T for Rs 3,269 crore on Monday.
- Offered huge bags of money, but we said no: Subroto Bagchi tells Mindtree staffBagchi tells Mindtree staff, founders were offered "huge money bags" to give away the IT giant.
- Mindtree seeks peer support to avert takeoverIndustry executives said that the company hopes to repeat the success of IVRCL a few years ago which avoided a hostile takeover by Essel Gr...
- What will you do with an IT firm if there's no staff: Mindtree asks L&TMindtree management believes that the deal would be value destructive for its investors.
- #MindtreeMatters, say employees to show supportSeveral tweets came from accounts that were previously dormant for years, or had been set up only in March.
- Mindtree promoters condemn hostile takeover, remain opposed to L&T takeover bidHere is the promoters’ statement that outlines potential negative consequences to corporate culture.
- L&T’s hostile bid for Mindtree: What is in it for shareholders?A buyback, if announced will increase the cost of transaction for L&T Infotech.
- Explained: The fight for Mindtree that threatens to snowball into a warThe founders’ bloc has been pursuing a deal with Baring PE to see that shares change hands to a friendly investor.
- Mindtree founders hope to stall takeoverMindtree founders continue their search for a white knight even as they oppose the largest shareholder and Coffee Day founder V G Siddharth...
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