| Description |
1 online resource (31 pages) |
| Series |
Emerald emerging markets case studies |
| Notes |
Learning outcomes: The learning outcomes of this study are as follows: 1. Learn to analyze a hostile takeover bid from the perspectives of the acquirer, target firm's management and a large institutional investor in the target firm. 2. Review the structuring, financing, valuation, mode of consideration, legal and regulatory aspects of a hostile takeover. 3. Understand the role of the target firm's board in a hostile takeover transaction. 4. Address "to sell or not to sell" dilemma of a large institutional investor in the target firm in the event of a tender offer given financial and non-financial considerations |
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Case overview/synopsis: On June 14, 2019, Pulak Prasad, Founder and Chief Executive Officer (CEO) at Nalanda Capital, in consultation with other managing partners at Nalanda Capital, had to decide whether to tender a 10.6% equity holding in Mindtree Ltd. in an unsolicited open offer made by Larsen and Toubro (L&T) Ltd. Until then, Nalanda Capital, led by Prasad, had aligned with the Mindtree founders and had led a campaign to thwart L&T's bid to acquire Mindtree; L&T's offer to acquire 31% of Mindtree shares was because of open on June 17, 2019 and it is time for Prasad and the management team to take a reasoned call - whether to stay in Mindtree or to exit? Associated aspects included - What could be the consequences of not selling the stake? What could be L&T's game plan? Could Mindtree continue to create wealth for its shareholders under L&T? |
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Complexity academic level: This case is appropriate for Mergers & Acquisitions and Strategic Financial Management courses in modules focused on structuring, financing and takeover defence techniques in a hostile takeover transaction. The case is appropriate for graduate MBA and EMBA programmes |
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Supplementary materials: Teaching notes are available for educators only |
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Subject code: CSS 1: Accounting and Finance |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Print version record |
| Subject |
Consolidation and merger of corporations -- Case studies
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Finance -- Case studies
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Business & Economics -- Mergers & Acquisitions.
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Takeovers, mergers & buy-outs.
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| Form |
Electronic book
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| Author |
Sivaraman, Vasant, author
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