Mindtree defers share buyback plan amid L&T takeover bid

IT services firm Mindtree, which is resisting a Rs 10,700-crore takeover bid from Larsen and Toubro (L&T) on Wednesday adjourned its board meeting convened to consider a share buyback, to a future date.

In a stock exchange filing on Wednesday, Mindtree said, “The Board considered the proposed buyback of equity shares of the company at its meeting held on March 20, 2019. Following detailed discussions, the meeting has been adjourned to a future date. No decision has been taken in relation to the proposed buyback of equity shares”.