India's Mindtree rejects conglomerate L&T's hostile takeover bid

India's Mindtree rejects conglomerate L&T's hostile takeover bid

The logo of Larsen & Toubro Ltd. is displayed outside the company's headquarters in Mumbai, India. Photographer: Kuni Takahashi/Bloomberg

India’s Mindtree on Tuesday rejected conglomerate Larsen & Toubro’s hostile takeover bid, saying L&T’s plan to acquire a controlling stake will not create value for the IT services firm or its shareholders.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter