CCI approves L&T open offer to Mindtree

Updated - April 05, 2019 at 09:05 PM.

Apart from buying Siddhartha’s stake, L&T has now also placed orders with brokers to pick up another 15 per cent of Mindtree shares from the open market

Shares of Mindtree will remain in focus, as the Competition Commission of India on Friday approved the acquisition of up to 66.15 per cent of the total equity shareholding of the company, on fully diluted basis, by L&T. Last week, Mindtree appointed Khaitan & Co as legal counsel and ICICI Securities as financial advisor to help the IT company’s board take a decision on the open offer made by L&T. Shareholders of Mindtree will watch further developments.

Published on April 5, 2019 15:35