L&T might merge L&T Infotech and Mindtree to create $22 billion firm by next week
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Larsen & Toubro ( L&T) might combine its tech arms-- Mindtree and L&T Infotech-- into a$ 22 billion establishment, Bloomberg has reported. The deal is anticipated to be inked coming week. After the news broke, shares of L&T Infotech were trading at Rs, down3.12 percent at around 0245 pm on BSE, and shares of Mindtree were trading at Rs, down3.57 percent. Mindtree hit a low of Rs at12.40 pm. L&T Infotech hit a low of Rs at1.40 pm. What could change? The junction, if it happens, will affect in cost solidarity for both the companies as admin costs like HR would come down. It's to be seen who'll lead this intermingled reality-- Mindtree CEO and Managing Director Debashis Chatterjee or L&T Infotech CEO and Managing Director Sanjay Jalona. The Bloomberg report says the enterprises' boards could consider share exchange rates for the junction as early as coming week. Independently, Mindtree and L&T Infotech would be conducting board meet...