Larsen & Toubro (L&T) has called for a board meeting on October 29. The board is expected to discuss the various issues regarding the open offer made by Grasim, so long a passive strategic investor, and also to consider the financial results for the second quarter ended September 30.
Having acquired around 14.52 per cent stake in L&T, the AV Birla group flagship Grasim has made an open offer at a price of Rs 190 a share for an additional 20 per cent stake in L&T as per the Sebi Takeover Code.
The corporate management committee (CMC), comprising of the executive directors of the engineering and cement major, met today to discuss the issues that the L&T management would like to discuss at the forthcoming board meeting.
L&T executives said,
