Page 12 - Mindtree

L&T expects Mindtree investment to generate above-average returns

The company getting an average 5% from Rs 16,000 crore cash in its books

Mindtree board defers decision on share buyback plan amid L&T takeover bid

L&T on Monday mounted a hostile takeover bid for Mindtree, with a multipronged strategy to buy 67% controlling stake in the firm

L&T's Mindtree takeover bid: Things to know about the proposed acquisition

L&T has entered into a deal to buy Cafe Coffee Day owner V G Siddhartha's 20.32% stake in Mindtree and is looking to pick up another 15% of company shares through open markets.

Mindtree to step up fight against L&T's open offer; board to meet on Mar 26

Mindtree plans to recommend to its investors not to subscribe to the open offer, citing low offer price, among key reasons

Letter to BS: Mindtree promoters should be more pragmatic, less emotional

Not only is L&T well within the law, but it also makes sound business sense for the very successful engineering conglomerate that already has two software services arms to take over MindTree

Mindtree board to meet again on Mar 26; to decide on share buyback

On Monday, diversified L&T made an offer to buy up to 66 per cent stake in Mindtree for around Rs 10,800 crore - a move that Mindtree promoters have vowed to oppose

It's emotion versus 'logic' in the L&T-Mindtree takeover battle

The tussle is expected to stretch out as Mindtree looks unwilling to cede control

Was offered bags of money to give Mindtree away, CEO Subroto tells staff

On Tuesday, co-founders of the company, Subroto Bagchi, Krishnakumar Natarjan and Rostow Ravanan univocally called the takeover bid 'a grave threat to MindTree

After L&T's takeover bid, Mindtree may still go ahead with buyback plan

The company, which is holding its board meet on Wednesday, will deliberate on legal recourse available before it to thwart the takeover bid

Mindtree independent directors should guide shareholders, says IiAS

Proxy advisory firm says the deal is a battle of corporate culture and work ethos

Mindtree says had detected irregularities by V G Siddhartha in disclosures

IT company Mindtree Tuesday said it had found certain irregularities in disclosures made by Coffee Day promoter V G Siddhartha, who sold stake in the company to L&T, and had taken action against him as per the law, according to a top official of the Bengaluru-based IT firm. "On the pledge disclosure issue, there was a disclosure that he made at certain point of time of all the pledge. At that point of time, there were some irregularities in his disclosures. Our board and audit committee evaluated it and handled it as per the rule that were prevailing at that point of time," Mindtree CEO Rostow Ravanan told reporters here. In this regard, a complaint against Siddhartha alleging insider trading during his stint at Mindtree has also been filed with Sebi by an anonymous person, according to sources. Email query sent to Siddhartha in the matter elicited no reply. The complaint filed against Siddhartha alleged that he and his firm Coffee Day group sold shares that were pledged before ...

Build tech business of your own: Mindtree promoters reject L&T takeover bid

Mindtree promoters have staunchly opposed L&T's bid to acquire the company, describing it a grave threat and value destructive to shareholders

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

Strongly opposing L&T's hostile bid, Mindtree promoters Tuesday asked why the infrastructure giant could not build a great technology business on its own and wondered what kind of a message is being sent to start-ups and credible entrepreneurs with the takeover attempt. 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 after the takeover. "You are a company with a turnover of Rs 1,20,000 crore, you are 18 times the size of Mindtree. Why can't you build a great technology business with your resources and capability without disseminating another organisation," Mindtree promoter and Executive Chairman Krishnakumar Natarajan said in a press conference here. Mindtree promoters have staunchly opposed the L&T's bid to acquire the company, describing it as a grave threat and value destructive to shareholders. Other promoters are Subroto ...

L&T's takeover bid unprecedented, vow to oppose it, say Mindtree promoters

The attempted hostile takeover bid of Mindtree by Larsen & Toubro is a 'grave threat' and 'value destructive' to the organisation collectively built over 20 years, say MindTree promoters

L&T CEO calls Mindtree takeover 'pyaar, not war'; says Siddhartha made move

L&T MD and CEO says the deal 'protects Mindtree against hostile takeover' and someone else would have moved if L&T didn't

L&T makes Rs 10,800 crore takeover bid for Mindtree

L&T would pay Siddhartha Rs 3,269 crore and Rs 5,030 crore for the open offer, as per filings made by L&T and Mindtree

L&T may spend over $1 billion in a bid to buy Mindtree: Report

(Reuters) - Indian conglomerate Larsen & Toubro Ltd would spend up to 70 billion rupees ($1.02 billion) in a hostile bid to buy IT services company Mindtree Ltd, the Times of India (TOI) reported citing sources directly involved with the matter.

Mindtree's share buyback plan to make takeover expensive for L&T

Mindtree is already trading at two times its enterprise value to revenues and the buyback at an expected at a price of Rs 1,000-1,200 would take the share price even higher

Mindtree co-founder Subroto Bagchi quits govt role to take on raiders

Mindtree faces the risk of management change as its largest shareholder is reportedly in talks with a rival technology firm to offload his stake

Mindtree taps institutions to fend off L&T's hostile takeover bid

Support of key institutional investors crucial in case of an open offer