Changing perceptions: L&T acquisition of Mindtree

The company is Larsen and Toubro. Henceforth, we will refer to it as L&T. The year in which the problem occurred was 2019. The protagonist is Mr. Yuvraj Mehta. We will now refer to him as Mehta, who is the Head Corporate Brand Management and Communications (CBMC). The issue is the negative media narrative against L&T following a high-profile merger and acquisition between L&T and Mindtree. Corporate Brand Reputation was at stake. The challenges which Mehta has to face: How does he influence all stakeholders? How does he change the narrative from hostile takeover to continuity, growth and profitability? How does he integrate Mindtree and its employees and culture into L&T? How does he reaffirm brand?

On March 18th 2019, Mehta at Larsen and Toubro heard about negative media narratives against L&T, which had set in following a high-profile merger and acquisition between L&T and Mindtree. Hostile takeover and destruction of Mindtree's culture were some of the allegations against L&T. Mehta was faced with the issue of influencing all stakeholders, turning the tide and changing the narrative from hostile takeover to continuity, growth and profitability, and integrating Mindtree and its employees and culture into L&T. Compared to its previous acquisitions, which are mainly organic, the Mindtree acquisition was one of the largest in value terms in L&T's history. It is also the most complex, as L&T promoters aggressively resisted the acquisition and L&T had to acquire a large number of shares through an open offer. Media speculations began in January 2019 when L&T the engineering and construction giant, planned to acquire a majority stake in the young IT firm Mindtree. Soon, the speculations changed to aggressive media ranting. Time was at a premium. Mehta knew that he would need to begin strategizing almost immediately. How would he proceed? How should he proceed? What would be his first move to ensure that the corporate branding of Mindtree L&T was not destroyed?