L&T-Mindtree Takeover News

L&T-Mindtree takeover

Midcap IT stock rallies on strong Q2 show. Should you buy?

Mindtree’s total contract value or TCV in the fiscal’s first half crossed USD 1 billion for the first time

1 min read14 Oct 2022

Mindtree investors get cold feet as promoters check out, L&T checks in

Mindtree shares now trade at ₹769, 22% lower than the price at which Larsen & Toubro Ltd had offered to buy the shares from the former’s shareholdersPost the open offer, L&T ended up with an over 60% stake in the company, and was categorised as its promoter

2 min read9 Jul 2019

With 60% stake, L&T completes its hostile takeover of Mindtree

L&T bought 31% additional stake through an open offerMindtree board’s decision to give shareholders a special dividend of ₹20 a share now runs the risk of being reversed

3 min read27 Jun 2019

L&T’s ₹5,030 crore open offer for 31% Mindtree stake to start on 17 June

L&T has priced its open offer at ₹980 per share and aims to increase its stake in Mindtree to 66.32%L&T signed a definitive agreement to acquire 20.32% from V.G. Siddhartha and his coffee enterprise for over ₹3,000 crore

1 min read8 Jun 2019

L&T raises Mindtree stake to 28.88%

Larsen and Toubro acquired 26,974 shares of Mindtree from the open market at ₹980 a pieceIn the week of May 20-24, L&T purchased Mindtree shares worth over ₹316 crore

1 min read30 May 2019

Sebi lens on hefty Mindtree payout

In April, Mindtree board announced a total dividend of 270% on ₹10 per share, including a special dividend of 200%, final dividend of 40% and interim dividend of 30% for fiscal 2019The dividend will fetch the promoters alone (who hold 13.32%) around ₹60 crore

2 min read10 May 2019

L&T acquires crucial 26% stake in Mindtree as marquee investors exit

With the latest purchase, L&T has managed to buy 6% in Mindtree from the open market and a 20% stake jointly held in Mindtree by Café Coffee Day founder VG Siddhartha and two CCD affiliate firmsL&T will also purchase an additional 15% from the open market and 31% in the open offer, beginning Tuesday

3 min read9 May 2019

In Mindtree’s record dividend, some see a tactic to ward off L&T takeover

Mindtree says the special dividend is a way to celebrate $1 billion in annual revenue and mark the 20th anniversary of the companyCEO Rostow Ravanan denies the special dividend is a poison pill manoeuvre, a way to make the takeover costlier for L&T

4 min read18 Apr 2019

With L&T’s return ratios under pressure, investor returns are hit too

Investors have perceived L&T’s decision to buy Mindtree as negative in the near term as its pushing cash into a non-core businessA failed share buyback offer earlier this year is also weighing on L&T shares, down about 5% so far in 2019

1 min read17 Apr 2019

L&T gets CCI approval for its Mindtree takeover bid

The CCI approval was crucial as L&T has its own IT business in L&T Infotech, whose market cap is almost twice that of MindtreeThe L&T-Mindtree deal now needs approval from anti-trust bodies of Germany and the US as Mindtree has clients in those countries

2 min read6 Apr 2019
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