Khalnayak nahi, Naik hoon main: L&T boss defends Mindtree takeover move

MUMBAI: Larsen & Toubro chairman AM Naik said his company was not seeking a hostile takeover of MindtreeNSE 0.02 % and was open to talks with the IT services firm’s founders to allay their concerns.

“This is no hostile bid. The shareholder approached L&T first—how can that be hostile by us? We are open to further negotiations with Mindtree—our doors are always open,” he told ET. “L&T has done much more for its employees than Mindtree for theirs. We formed the L&T employees’ trust, which owns a sizeable stake in the company.

Our culture has been called the best by several studies. So it is ridiculous to state otherwise.”