L & T talks 'Dil & Pyaar', but Mindtree asks it to back off – Times of India

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L & T talks 'Dil & Pyaar', but Mindtree asks it to back off – Times of India

For the first time since news emerged about L & T’s unsolicited acquisition of $ 900-million Bengaluru-based IT services company, Mindtree’s founders came together for the media as a move to a “unique” organization for a grave threat and all for value-destructive shareholders

Updated: Mar 20, 2019, 10:52 IST

Highlights

  • Mindtree’s founders came together before the media to describe L & T’s move as a serious threat to a “unique” organization and value-destructive for all shareholders
  • They even said it could grievously hurt the IT industry and the startup ecosystem

Mindtree co-founder Subroto Bagchi with Mindtree Executive Chairman Krishnakumar Natarajan and Mindtree CEO Rostow Ravanan, at the press conference, in Bengaluru on Tuesday.

L&T talks ‘dil & pyaar’, but Mindtree asks it to back off

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Mindtree

L & T to make first-ever hostile bid in Indian IT for Mindtree

Diversified conglomerate Larsen & Toubro (L & T) is set to launch a bid to acquire mid-tier IT services company Mindtree, possibly as early as Monday evening. It will buy out Coffee Day founder and Mindtree’s biggest shareholder, VG Siddhartha, and a open offer to public shareholders, Controlling interest for as much as Rs 7,000 crore (or $ 1 billion) spent, the matter of people is directly aware told TOI

Krishnakumar Natarajan

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Subrahmanyan also said that there were no plans to disturb Mindtree’s current management and the promoters could continue with the company.

In Video:

‘Customers choose Mindtree not for its buildings, but for its culture’

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