Mindtree is looking for a “common middle ground” with Larsen & Toubro that will help shareholder of both the companies, even as a midsize IT firm awaits the recommendations of a committee of independent directors on an open offer announced by the engineering giant, said Chairman of MindTree.
“We understand that it is a reality (that) once the regulatory approval comes, L&T will be a large or a reasonable, shareholder of us,” Krishnakumar Natarajan said, referring to L&T’s deal to buy a 20.32% stake in MindTree from long-term investor VG Siddhartha. “In our history, we always treated shareholders with a lot of respect. We would (continue to) respect (them),” he said.
He added, “there is an opportunity to create long-term value” by working together, but to achieve that, both sides needed to engage in conversation and “work out something like a common minimum programme”.
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