Mindtree takeover plan: L&T explores backchannel talks for bid

Larsen & Toubro (L&T) is learnt to have reached out to Mindtree founders through backchannel negotiations. Sources in the know said that after its public standing on the issue, which played out in the media, L&T is keen to explore a middle path that will not only help it in addressing Mindtree’s concerns but also in increasing the acceptance of its bid to take controlling stake in the firm.

“Backchannel negotiations have started from L&T’s side through some personalities who are acceptable to both parties. However, this round is driven by more mid-level officials, a few investment bankers, and legal