L&T's hostile takeover bid for Mindtree gets thumbs-down from analysts

Larsen & Toubro’s (L&T’s) hostile takeover bid for Mindtree at Rs 980 per share in an all-cash transaction has got a thumbs-down from analysts. The hostile takeover, if goes through, will be a misfit for the engineering and construction giant, at least in the short term.

On Monday, L&T entered into a deal to purchase the 20.32 per cent stake of Mindtree’s single-largest investor, V G Siddhartha, at Rs 980 per share in an all-cash transaction. L&T now plans to buy an additional 15 per cent from the market at Rs 980 per share, for a consideration of