logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Consumer Electronics Show have announced that it will allow sex toys to be exhibited on the floor as well as win awards next year. The organizers said CES 2020 will include tech-based sexual products on a one-year trial basis as part of the Health & Wellness product category or in the Health &... eBay Inc. (EBAY) Wednesday reported a second-quarter profit that trumped Wall Street analysts' estimates, as did revenues. Moving ahead, the company lowered its full-year revenue outlook, but lifted its earnings estimates, sending shares up nearly 5% in extended trading session. eBay's second-quarter... Shares of Netflix Inc. (NFLX) tanked 12% in extended trading session Wednesday after the online-video streaming giant reported a weak global subscriber additions, with U.S. subscribers dropping for the first-time ever. Netflix added 2.70 million subscribers globally in the quarter, far below its forecast...