After pyaar, Larsen & Toubro advices Mindtree to dial down the hostility

MUMBAI: Cut down the hostility and let Larsen & Toubro have a seat on the board, then we can talk about how MindtreeNSE 0.37 % can be run independently – that’s the advice R Shankar Raman, chief financial officer of the engineering conglomerate, has for the founders of Mindtree.

Mindtree’s founders have attacked L&T for launching a ‘hostile takeover’ after it bought a 20.3% stake from early investor VG Siddhartha, paving the way for an open offer and potential acquisition of a controlling stake in the company. While L&T has said Mindtree will continue to be an independent company under the conglomerate, it has been attacked by the founders and employees, who are referred to as “Minds” in the IT services company, for its move.