Mindtree founders hope for government support

BENGALURU: Mindtree’s founders Krishnakumar Natarajan, Subroto Bagchi, Parthasarathy N S and Rostow Ravanan on Tuesday sent out a stinging message to the L&T brass that they would not quietly give in to the latter’s hostile bid for their company.

They described it as an unexplainable transaction by a company that has a very different culture, one that would disrupt Mindtree’s relationship with customers and competitiveness in the market.

“We do not see any strategic advantage in the transaction and strongly believe that the transaction will be value-destructive for all shareholders. Our success depends on building and nurturing relationships with our clients and partners. This unexplainable transaction will bring disruption to those relationships and impair Mindtree’s ability to differentiate itself in the market and continue to deliver client value and great shareholder return,” the founders said at a press conference here on Tuesday.