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Mindtree Promoters Oppose Hostile Takeover Bid Of Larsen & Toubro - Quick Facts

Mindtree, a global technology services and Digital transformation company, announced the promoters of the company said they would unconditionally oppose the hostile takeover bid by Larsen & Toubro Ltd. Responding to the attempted hostile takeover bid, the promoters, including Krishnakumar Natarajan (executive chairman), Subroto Bagchi (co-founder), Rostow Ravanan (CEO) and Parthasarathy (executive vice chairman and COO), stated that they don't see any strategic advantage in the transaction and strongly believe that the transaction will be value destructive for all shareholders.

"A hostile takeover by Larsen & Toubro, unprecedented in our industry, could undo all of the progress we've made and immensely set our organization back. Our collective success depends on building and nurturing relationships with our clients and partners. This unexplainable transaction will bring disruption to those relationships and impair Mindtree's ability to differentiate itself in the market and continue to deliver client value and great shareholder return," the promoters stated.

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