How Mindtree became the object of a hostile takeover battle between its management and L&T

Winter had set in by the middle of last December when Mindtree’s management agreed to meet executives of Baring Private Equity in Bengaluru. The founder-managers, with a 13.2% stake, were looking for a white knight to save them from a predator. In the middle was a passive investor, with a 20.4% stake, who wanted to…

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