 "Mindtree")
The Mindtree founders are reaching out to top clients and engaging with key institutional investors to fend off attempts by engineering major Larsen & Toubro (L&T) from making a hostile takeover bid, sources in the know said.
Last week, the Bengaluru-headquartered firm said its board would consider a share-buyback proposal in its next meeting scheduled for March 20. The announcement of a possible share repurchase has come amid reports of L&T’s board giving the green signal to buy Café Coffee Day founder V G Siddhartha’s 20.41 per cent stake in Mindtree.
As corporate action like a buyback usually pushes up the share
