Mindtree board evaluating several options to stave off L&T hostile bid, says Natarajan
L&T has acquired Cafe Coffee Day owner V G Siddhartha's 20.32 per cent stake in Mindtree and has also placed an order with brokers to pick up another 15 per cent shares from the open market. Besides, an open offer has been made to buy over 5.13 crore or around 31 per cent stake for Rs 5,030 crore.
Mindtree has formed a panel under lead independent director and Jagran Prakashan President Apurva Purohit to look into "unsolicited open offer" by L&T. Image source: Mindtree Official Twitter/ Reuters