Mindtree scraps share buyback plan, stage now set for L&T takeover
Mindtree constitutes committee of independent directors to evaluate L&T's offer
Larsen & Toubro launches open offer to buy 31% in Mindtree
Mumbai: Mindtree Ltd’s board on Tuesday scrapped a share buyback proposal that was aimed at preventing a hostile takeover by the country’s largest engineering company, Larsen and Toubro Ltd (L&T). The move may make it easier for L&T to gain control of Mindtree, controlling shareholders of which have been resisting a takeover by the engineering behemoth.