Why us, why don’t you build your own IT firm: Mindtree’s poser to L&T

Hours after the L&T CEO tried to play down ‘hostile’ tone to his company’s move to acquire MindtreeNSE 1.51 %, the promoters of the technology firm held a press conference, reiterating their stand against the attempt, calling it unprecedented and unexplainable.

“Mindtree will continue to oppose L&T’s takeover attempt,” said Chairman Krishnakumar Natarajan in the press conference. “We don’t see any strategic advantage in this transaction,” he said adding that the “unexplainable” transaction will be harmful for the tech firm and its ability to deliver shareholder value.

“It could undo all the progress we have made.”