Latest News on Hostile Takeover Bid
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Hostile Takeover Bid - Total results - 8
Jul 18, 2019
L&T Group head AM Naik appointed as Mindtree non-executive ChairmanL&T was categorised as the new promoter of Mindtree earlier this month
Jul 10, 2019
L&T takeover impact: Mindtree's Executive Vice President Kamran Ozair quits within a week after three founders of IT firm resignWithin days of L&T gaining control of Mindtree, the IT firm's Chief Executive Officer Ravanan, Chairman Natarajan and Vice Chairman Parthasarathy quit.
Jul 02, 2019
L&T pays Mindtree shareholders who tendered shares in open offer; infra major's open offer was at Rs 980 a shareL&T's deal marks India's first-ever hostile takeover bid in the IT space
Jun 27, 2019
L&T becomes majority shareholder in Mindtree with 60% stake; infra major all set to take control of IT firmMindtree founders had resisted the bid and had tried rallying support from Singapore-based Nalanda Capital and others.
May 30, 2019
L&T's open offer to Mindtree's shareholders stuck in limbo over Sebi norms; regulator examining conditions for bidL&T entered into a deal to buy Cafe Coffee Day owner V G Siddhartha's 20.32% stake in Mindtree and had also placed an order with brokers to pick up another 15% of the company shares from the open market.
May 20, 2019
L&T's A M Naik says mind completely occupied with Mindtree acquisition; will make it a big firmL&T which has taken its overall holding in Mindtree to about 26%, will launch an open offer to buy additional stake in around 10 days
Mar 26, 2019
Mindtree scraps share buyback plan after L&T open offer; will form panel to evaluate takeover bidL&T bought a fifth of Mindtree from Siddhartha and companies related to him for Rs 3,269 crore ($474.73 million) and said it planned to raise its stake to 66 percent.
Mar 20, 2019
L&T, Mindtree come in open to counter each other over Rs 10,800 cr hostile dealInfrastructure 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 calling it "value destructive" and "grave threat" to the company's future