Larsen & Toubro may merge Mindtree and L&T Infotech

Engineering firm Larsen & Toubro (L&T) is weighing a merger between two of its software firms Mindtree and Larsen & Toubro Infotech, Bloomberg news report said.
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L&T has acquired control of Mindtree in 2019. L&T holds about 61 percent stake in Mindtree, which has a stock market value of $8.3 billion.

L&T has around 74 percent of L&T Infotech, which has a stock market capitalization of $13.6 billion, data compiled by Bloomberg show.

The two companies have minimal overlap in businesses or clients, and a tie-up would give them better pricing power and lower costs.

Mindtree and L&T Infotech are scheduled to report earnings on Monday and Tuesday respectively.

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