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Mindtree's special dividend could strip firm of Rs 320 cr ahead of L&T takeover

Ahead of a potential takeover of the company by L&T, Mindtree's board on Wednesday proposed to pay a handsome Rs 320 crore special dividend to its shareholders including promoters, saying the move..
Firstpost - Published

Mindtree March quarter net jumps 8.9% at Rs 198 cr; board declares special dividend of 200%

Mindtree's FY'19 net profit grew 32.2 percent to Rs 754.1 crore, while revenue was up 28.5 percent to Rs 7,021.5 crore from the previous fiscal.
Firstpost - Published

L&T to hire 1,500 people this year, company to focus on ensuring wider participation of women

L&T recently made a hostile takeover bid for mid-sized IT services firm Mindtree. However, the company's founders have resisted the unsolicited acquisition bid
Firstpost - Published

L&T gets Competition Commission of India's approval for majority stake acquisition in Mindtree

L&T has acquired Cafe Coffee Day-owner V G Siddhartha's 20.32 percent stake in Mindtree and has also placed an order with brokers to pick up another 15 percent shares from the open market.
Firstpost - Published

CCI approves L&T's bid to acquire stake in Mindtree

The Competition Commission of India (CCI) on Friday said that it has approved the acquisition of up to 66.15 per cent of the total equity shareholding of Mindtree by Larsen and Toubro Limited (L&T).
Sify - Published

CCI gives speedy nod to L&T bid for Mindtree

L&T has agreed to buy Mindtree’s largest shareholder and Coffee Day founder V G Siddhartha’s 20.4% stake for over Rs 3,000 crore. L&T has also placed an order with brokers to pick up another 15% of..
IndiaTimes - Published

Mindtree board evaluating 'several options' to stave off L&T bid, says Natarajan

L&T has acquired Cafe Coffee Day owner V G Siddhartha's 20.32 percent stake in Mindtree and has also placed an order with brokers to pick up another 15 percent shares from the open market. Besides,..
Zee News - Published Also reported by •Firstpost

More money from L&T top on Mindtree's mind

Industry insiders say Mindtree would seek Rs 50-100 more over the price per share quoted by L&T
DNA - Published

Mindtree relents, panel to examine L&T offer

At its meeting on Tuesday, Mindtree Board decided not to go ahead with its own plan to come out a buyback offer.
DNA - Published

Mindtree not to buy back shares after L&T open offer

Global software major Mindtree on Tuesday decided not to proceed with its proposal to buy back equity shares after infrastructure major Larson and Toubro (L&T) made an open offer to acquire 31 per cent..
Sify - Published

Mindtree scraps share buyback plan after L&T open offer

Mindtree would also form a committee of independent directors to evaluate L&T`s offer, it said in a statement.
Zee News - Published Also reported by •Reuters India

Mindtree board to meet today to discuss share buyback; L&T wants IT firm chairman Krishnakumar Natarajan to continue


Firstpost - Published

L&T offers to buy 31 percent stake in MindTree for $730.2 million

Indian conglomerate Larsen & Toubro Ltd (L&T) made an open offer on Tuesday to acquire a 31 percent stake in IT services firm MindTree Ltd for 50.30 billion rupees ($730.20 million).
Reuters India - Published

L&T offers to buy 31% shares of Mindtree

Infrastructure behemoth Larson & Toubro (L&T) Ltd on Tuesday offered to buy over 5.13 crore shares or 31 per cent of IT major Mindtree's equity stake for Rs 5,030 crore at Rs 980 per share of Rs 10..
Sify - Published

L&T chairman AM Naik defends Mindtree takeover bid, says was open to talks with IT services firm's founders to allay concerns

Naik said that it was not a hostile bid and claimed that L&T has done much more for its employees than Mindtree for theirs
Firstpost - Published

L&T bid: ‘All of us will get back to business in 7-8 weeks,’ says Mindtree chairman

As an organisation, we don’t believe in leveraging the support for any purpose. Our belief is that we have delivered great value to our shareholders and customers, and right now we are focused on..
IndiaTimes - Published

'Offered huge sum to give away Mindtree to L&T'

In a letter to employees, Mindtree’s founder and former CEO, Subroto Bagchi said: “KK, Rostow, Partha and I were offered huge bags of money to give Mindtree away. We have respectfully said 'no' to..
IndiaTimes - Published

L&T bid: Mindtree founder says 'offered huge bags of money' to give away company

In a letter to employees, Bagchi said: “KK, Rostow, Partha and I were offered huge bags of money to give Mindtree away. We have respectfully said 'no' to their overtures."
IndiaTimes - Published Also reported by •Sify

How Mindtree plans to thwart L&T's takeover bid

Mindtree plans to recommend to its investors not to subscribe to the open offer, citing low offer price, among key reasons. The founders were exploring several other options, including coming out with..
Rediff.com - Published

L&T's Mindtree stake buy: SEBI, govt must protect tech firm's small shareholders as infra giant can silence opposition

The SEBI and ministry of corporate affairs must proactively come to the aid of small shareholders who stand to benefit immensely from the L&T offer as the counteroffer from Mindtree - buyback of..
Firstpost - Published

Mindtree board set to meet again on 26 March to deliberate on L&T's buyback offer

On Monday, diversified L&T made an offer to buy up to 66 percent stake in Mindtree for around Rs 10,800 crore
Firstpost - Published

Q&A: What's the 'deal' with L&T and MindTree


IndiaTimes - Published

Blackstone to buy Siddhartha’s real estate firm

The tech park, Global Village, is a 4-million-sqft tenanted office space located on a 120-acre campus. It counts Accenture and Mphasis among its tenants, besides having the headquarters of embattled IT..
IndiaTimes - Published

'Long-drawn battle with L&T may hurt Mindtree'


IndiaTimes - Published

L&T's Mindtree stake buy: Time for tech firm to analyse if acquisition will create better value for company

For Mindtree's promoters, who hold nearly 13 percent of the company, there are fewer options to avoid the hostile takeover.
Firstpost - Published

Mindtree promoters allege money offered to them to give away firm; say won't yield to L&T's hostile bid silently

In the country's first hostile takeover bid in the IT sector, Larsen & Toubro on Monday made an offer to buy up to 66 percent stake in the Mindtree for around Rs 10,800 crore, reported PTI.
Firstpost - Published

Mindtree spurns a dubious lover in L&T, but do not rule out an arranged marriage between them

Mindtree's own co-founder, Ashok Soota, had walked out of Mindtree in 2011 to start his own IT firm, Happiest Minds.
Firstpost - Published

L&T, Mindtree come in open to counter each other over Rs 10,800 cr hostile deal

Infrastructure major Larsen and Toubro on Tuesday moved in to allay concerns over its Rs 10,800-crore bid to take over IT services firm MindTree, whose management strongly objected to the proposal..
Firstpost - Published Also reported by •Zee News

L&T hostile bid: Mindtree finds 'some irregularities' in Caf Coffee Day promoter VG Siddhartha's disclosures

A complaint against Siddhartha alleging insider trading during his stint at Mindtree has also been filed with Sebi by an anonymous person
Firstpost - Published

'Limited downside to L&T's valuation in takeover'

A report on Tuesday said it sees limited downside to diversified conglomerate Larsen and Toubro's (L&T) valuation in its hostile bid to take controlling stake in leading IT services firm Mindtree.
Sify - Published

Mindtree board to discuss proposed buyback offer

Leading IT services firm Mindtree's board of directors will meet on Wednesday to discuss the company's proposed buyback, in the backdrop of diversified conglomerate Larsen and Toubro Ltd's (L&T) bid to..
Sify - Published

Mindtree fights back as L&T closes in

L&T has said that the newly acquired software firm will be run independently and the acquisition will create value for the group
DNA - Published

Mindtree acquisition: We are not corporate raiders, says L&T CEO

“It shouldn’t be seen as a hostile takeover,” L&T chief executive and managing director S N Subrahmanyan told TOI in an interview. “We didn’t go looking for Mindtree. Its largest shareholder,..
IndiaTimes - Published

Mindtree refutes L&T's offer of ‘dil & pyaar’

L&T chief executive and MD S N Subrahmanyan invoked 'dil and pyaar' (heart and love) on Tuesday in an effort to calm the fears of Mindtree’s founders. But the latter would have none of it.
IndiaTimes - Published

Mindtree management rejects L&T's hostile takeover bid

India's Mindtree on Tuesday rejected conglomerate Larsen & Toubro's hostile takeover bid, saying L&T's plan to acquire a controlling stake will not create value for the IT services firm or its..
Reuters India - Published

L&T hostile bid: Why infrastructure giant could not build a great technology business on its own, ask Mindtree promoters

Strongly opposing L&T's hostile bid, Mindtree promoters on Tuesday asked why the infrastructure giant could not build a great technology business on its own
Firstpost - Published

What message is being sent to start-ups: Mindtree promoters to L&T on hostile bid

Posing five questions to diversified Larsen and Toubro (L&T), which already has two separate IT firms, the promoters also wanted to know what would happen if Mindtree employees choose to leave..
Zee News - Published

Mindtree's to L&T: Why us, why not build own IT co


IndiaTimes - Published

L&T's hostile bid to takeover Mindtree: Facing flak, engineering conglomerate says deal triggered by VG Siddhartha

Under flak for mounting a Rs 10,733-crore hostile takeover bid on Mindtree, engineering major L&T Tuesday said the deal got triggered after largest sharehlder VG Siddhartha approached them three..
Firstpost - Published

L&T says Mindtree bid triggered by Siddhartha

Engineering major L&T on Tuesday said the deal got triggered after largest sharehlder VG Siddhartha approached them three months ago, and exuded confidence in winning over the unhappy promoters. L&T's..
IndiaTimes - Published

Hostile bid: L&T facing flak for takeover bid on Mindtree

Engineering major L&T on Tuesday said the deal got triggered after largest sharehlder VG Siddhartha approached them three months ago, and exuded confidence in winning over the unhappy promoters. L&T's..
IndiaTimes - Published

Mindtree to be run independently for now, says L&T

L&T on Monday announced a hostile takeover bid involving a three-pronged acquisition of Mindtree.
Zee News - Published

Mindtree promoters vow to oppose hostile takeover bid by L&T; dub it 'grave threat' to company

The promoters of IT company Mindtree have vowed that they would unconditionally oppose the attempted hostile takeover bid by Larsen and Toubro, and dubbed it a grave threat to the organisation
Firstpost - Published

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