Larsen & Toubro, one of the largest Indian multi-national firms and leading construction company, has agreed to acquire Mindtree, a multinational information technology and outsourcing company for $1.5bn. L&T will buy out Mindtree's largest shareholder V.G. Siddhartha’s nearly 21% stake for over INR30bn ($434m). The company has also placed an order to acquire additional 15% on the open market. Following this acquisition, L&T will trigger an open offer for another 26% from public shareholders. Private equity investors, including Advent International, KKR and Baring Asia also made offers for Mindtree but were outbid by L&T.