MindTree

MindTree News

Mindtree appoints former Cognizant executive as new MD, CEO

L&T's takeover of Mindtree marked India's first-ever hostile takeover in the IT space. The infrastructure giant had bought 20.32 per cent shares in Mindtree from late V G Siddhartha and his coffee enterprise for over Rs 3,000 crore in March.

Mindtree independent directors’ panel says L&T offer price ‘fair’

“The shareholders of the target company are advised to independently evaluate the open offer and take an informed decision about tendering the equity shares held by them in the open offer,” said a BSE filing on Tuesday.

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Mindtree independent directors' panel says L&T's open offer price at Rs 980/share fair

On June 7, the infrastructure major Larsen & Toubro announced a Rs 5,030-crore open offer to acquire an additional 31 per cent stake in mid-tier IT company Mindtree at a price of Rs 980 per share.

Larsen and Toubro picks up Mindtree shares worth Rs 70 crore between May 27-30

The development assumes significance as L&T has been steadily increasing its holding in the Bengaluru-based tech firm where it acquired around 20 per cent stake of V G Siddhartha and Cafe Coffee Day last month.

L&T acquires 33 lakh shares of Mindtree; its stake now up at 25.9%

Shares of Mindtree closed 0.19 per cent down at Rs 978.60 per share on Thursday at the BSE. L&T is in the midst of acquiring a majority stake in Mindtree, which the promoters of the latter are opposed to.

Mindtree board proposes special dividend of Rs 20 per share; may cost firm Rs 320 crore

Mindtree will, however, seek the approval for its proposal at the forthcoming annual general meeting likely to take place in June or July, but there will be no extraordinary general meeting for the same.

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In light of L&T and Mindtree, a look at how hostile takeover bids have played out over the years

Before L&T & Mindtree, there was Swraj Paul & DCM, Escorts. How such bids have played out over the years.

Mindtree promoters condemn L&T’s takeover bid

With 66.32 per cent stake in Mindtree, L&T would become the majority shareholder. The IT company's shares fell at least 1.7 per cent on Tuesday.

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. Thus, it plans to acquire 67 per cent for a consideration of Rs 10,733 crore.

Explained: What next in the Mindtree takeover saga?

Speculation is rife that L&T is in advanced stages of negotiations to buy out a 20.4 per cent stake held by Cafe Coffee Day's founder VG Siddhartha -- Mindtree's largest shareholder.

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