Stage set for showdown in L&T-Mindtree takeover battle
- Larsen and Toubro agrees to buy Cafe Coffee Day founder V.G. Siddhartha's 20.32% stake in Mindtree for ₹3,269 crore
- L&T says will buy an additional 15% in Mindtree from open market and launch an open offer for 31% more, both at ₹980/share
Mumbai: 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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