Differences cropped up between the cousins over a pact for joint development of land.
The deal came after the Securities and Exchange Board of India issued a show cause notice to Nalanda Capital for asking Mindtree’s public shareholde
L&T is trying to acquire control of Mindtree by buying as much as 66.32% in the IT services firm for about Rs 10,700 crore.
By crossing the 25% shareholding mark, L&T gets a board seat and the power to propose or block special resolutions.
The current deal size is pegged at ₹3,218.32 crore but going forward, L&T is looking to buy at least 6% more from the open market.
CCI approval was crucial as the market capitalization of L&T Infotech is almost twice that of Mindtree. Their combined valuation stands at ₹46,000 c
The founders of Mindtree, who together own 13.32% in the company, are trying to fend off a hostile takeover bid by L&T by buying back shares from pub
L&T announced it has agreed to buy Cafe Coffee Day founder V.G. Siddhartha’s stake in Mindtree Ltd for ₹3,269 crore, setting the stage for a showd
Typically, an entity is required to make an open offer to gain control of a listed form only after acquiring 25% in the latter. But, in this case, L&T
Jet Airways has an option to sell down as much as ₹250 crore of the term loan to other investors.
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