Long-drawn battle with L&T may hurt Mindtree: Analysts

BENGALURU: The major risk in L&T’s battle to take control of MindtreeNSE -1.03 % is the process dragging on and hurting the Bengaluru-headquartered IT firm’s business, analysts said, even as they opined that cultural issues could be managed.

L&T has bought a nearly 21% stake in Mindtree and has made an open offer to get a majority holding. Mindtree’s founders have termed this a “hostile” takeover approach and have vowed to fight it for as long as it takes.