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    Mindtree promoters oppose hostile takeover bid by L&T

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    Mindtree promoters said that they oppose the hostile takeover bid of the IT services by engineering giant Larsen and Toubro. On Monday, L&T signed a deal to acquire 20.3% shares of its lead investor V G Siddhartha and plans to increase stake to 66.3% through a combination of open offer and buying shares in the market. L&T is offering Rs 980 per share. On Wednesday, Mindtree board is expected to announce a share buyback.

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    The Economic Times