Indian conglomerate L&T throws down gauntlet in Mindtree takeover battle

Photo: Reuters

Larsen and Toubro Ltd (L&T) on Monday agreed to buy Cafe Coffee Day founder V.G. Siddhartha’s stake in Mindtree Ltd for ₹3,269 crore, setting the stage for a showdown with the Bengaluru-based company’s controlling shareholders, who are preparing a defence against the hostile takeover.

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