L&T’s new tactic in Mindtree war: Charm offensive

MUMBAI | BENGALURU: Top executives of Larsen & Toubro resorted to charm in an attempt to win over the irate promoters of MindtreeNSE 1.94 %, a day after mounting a hostile takeover bid for the Bengaluru-based IT services firm, even as both sides clung to their positions in an extraordinary acquisition battle that marks a first for India’s $150-billion IT outsourcing industry.

“We are looking at Mindtree with pyaar (love) and want to do this deal from our dil (heart),” said SN Subrahmanyan, CEO, L&T, on Tuesday. “There are certain emotions and trepidation involved, but business is business. Emotions do play a part, but have to be overcome as we go forward,” he told reporters.