Fortis Board to look at ‘all eligible options’ this week 

Fortis Healthcare on Monday said its Board will meet this week to “look at all eligible options” as new parties have entered the race to acquire it after the pact with Manipal Health Enterprises.

Published: 17th April 2018 01:05 AM  |   Last Updated: 17th April 2018 05:39 AM   |  A+A-

By Express News Service

NEW DELHI: Fortis Healthcare on Monday said its Board will meet this week to “look at all eligible options” as new parties have entered the race to acquire it after the pact with Manipal Health Enterprises.
“The Fortis Board will be meeting this week to look at all eligible options and determine the future course of action that is in the best interests of the company, employees and shareholders,” Fortis said in an email statement.The company’s statement comes hours after Malaysia’s IHH Healthcare said Fortis has expressed inability to engage regrading its offer for acquiring the Indian healthcare firm at up to `160 per share due to binding agreements with Manipal-TPG consortium.

Last week, Fortis had received two binding offers — one is a revised offer from Manipal Health Enterprises Pvt Ltd (MHEPL) and the second is a joint binding offer from Hero Enterprise Investment Office and Burman Family Office expressing interest in the company. In addition, the company has also received a non-binding expression of interest from IHH Healthcare Bhd, the statement said.Manipal had raised its offer for Fortis to `155 per share by valuing the hospital business higher at `6,061 crore, from `5,003 crore initially. 

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