Hostile takeovers always make news. In the high-profile Indian IT sector, it makes for a bodice-ripping plot. While takeovers have been attempted in other sectors, this is the first instance of it in IT, that too for a prominent mid-tier company.
In the last fortnight, construction and engineering giant L&T’s attempt at a hostile takeover of the $846 million Mindtree software has been in the news. Set up in 1999, Mindtree Limited has an employee strength of around 20,000 personnel with revenue of Rs 84.6 crore (2017-18).