Saga Of First Hostile Takeover In Information Technology Sector

1. INTRODUCTION

1.1 In ordinary parlance, a hostile takeover shall imply the acquisition of Target Company by the Acquirer which is accomplished by going directly to the company's shareholders or fighting to replace management to get the purchase approved. A hostile takeover can be achieved through either an open offer or a proxy fight.

There have been very few instances of hostile takeover in our country. Of late, the biggest tussle in the power of control is being witnessed in the Information Technology sector wherein Mindtree Ltd deploying all resources and tactics to fight tooth and nail to fend off L&T takeover attempt. It will be the first-ever hostile takeover move in India's technology industry for a publicly traded company.