 "Mindtree founders may have to vacate board seats for L&T nominees")
Larsen & Toubro Ltd. is weighing a merger between two of its publicly traded software firms, according to people familiar with the matter, as the Indian conglomerate seeks scale to compete with global digital giants.
The boards of Mindtree Ltd. and Larsen & Toubro Infotech Ltd., two software units controlled by the Mumbai-based engineering firm, could consider share swap ratios for the merger as early as next week, one of the people said, asking not to be identified as the information is not public.
Larsen acquired control of Mindtree in 2019. The conglomerate holds about a 61 per cent stake in the
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