L&T Group Chairman A M Naik, while speaking to the media to announce the merger of Mindtree and L&T Infotech, said that if there is a good opportunity to acquire, the group will look at it
The Boards of Directors of L&T Infotech and Mindtree on Friday approved a merger of the two independently listed information technology (IT) services companies under the Larsen & Toubro Group.
L&T Infotech and Mindtree, the two independently listed IT services companies under Larsen & Toubro Group, on Friday announced a merger that would create India s fifth-largest IT services provider.
Upon the scheme becoming effective, all shareholders of Mindtree will be issued shares of LTI at the ratio of 73 shares of LTI for every 100 shares of Mindtree.
Mindtree shareholders will get 73 shares of LTI for every 100 shares of Mindtree, the statement said, adding the combined entity will be called as LTIMindtree.