Mindtree independent directors term L-T takeover offer fair and reasonable - The TheIndianSubcontinentNever miss a great news story!Get instant notifications from TheIndianSubcontinentAllowNot nowYou can switch off notifications anytime using browser settings.NewsLATEST NEWSYES Bank down 3% on Moody's review, independent director's resignationExpect oil price at $65-70 a barrel in second half: Calvin Lee, S-P Global PlattsSensex slips 150 points, Nifty below 11,950 amid trade war fearsShare market update: Auto shares in the red; Bajaj Auto down 1% Misappropriation case in SC causes Indiabulls m-cap to shrink Rs 5,300 croreKesar Enterprises, Optiemus Infra among top losers on BSEPushing digital payments: Cash, but no cashPatspin India, Smartlink Holdings among top gainers on BSEBuzzing stocks: YES Bank, RPower, DHFL, RCom, RIL Stock Analysis, IPO, Mutual Funds, Bonds - MoreL-Ts open offer to buy another 31 per cent stake in Mindtree will now open on June 17 and close on June 28.Jun 12, 2019, 10.09 AM ISTReutersMindtrees promoters, who own about 13 per cent of the company, have opposed the takeover, calling it hostile and saying it undervalues the mid-tier IT company.
Mindtrees independent directors have said that engineering conglomerate Larsen - Toubros offer of Rs 980 for the IT companys shares appears to be fair and reasonable and is in accordance with the market regulators takeover rules.The shareholders of the target company are advised to independently evaluate the open offer and take an informed decision about tendering equity shares held by them in the open offer, the independent directors said in a filing with the Bombay Stock Exchange.Mindtrees promoters, who own about 13 per cent of the company, have opposed the takeover, calling it hostile and saying it undervalues the mid-tier IT company.
L-Ts open offer to buy another 31 per cent stake in Mindtree will now open on June 17 and close on June 28, after getting delayed by a month of its original timeline of May 14 to May 27 as it awaited the regulator Securities and Exchange Board of Indias final approval for the draft letter of offer.
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