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A brief account of hostile takeovers in India

While India has been witnessing a spurt in the number of merger and acquisitions (M&A) in recent times, the number of hostile takeover attempts has been limited. NEW DELHI: With diversified conglomerate Larsen and Toubro (L&T) signing a deal with Cafe Coffee Day founder V.G. Siddhartha to buy 20.4 per cent stake in leading services firm Mindtree NSE -1.82 % at Rs 981 per share for about Rs 3,300 crore, in a bid to acquire the firm. Mindtree on Tuesday came out with a scathing condemnation saying: "The attempted hostile takeover bid of Mindtree by L&T is a grave […]

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