NEW DELHI: Infrastructure major Larsen & Toubro on Monday bought shares worth about ₹113 crore of Mindtree through open market transactions. Last week, L&T had purchased around 20% stake of V G Siddhartha and Coffee Day in Mindtree through block deal for about ₹3,210 crore. Post this transaction, the infrastructure major is in fray to buy up to 46% more stake in Mindtree. Subsequent to these deals, L&T would make an open offer to buy additional 31% stake through an open offer. Mindtree had formed a panel of independent directors to look into "unsolicited open offer" by infrastructure major L&T to give its recommendations.

Source: Mint May 06, 2019 16:07 UTC