Malaysia's IHH Healthcare submits fresh bid for cash-strapped Fortis' acquisition
Malaysia's IHH Healthcare Berhad on Tuesday said it has made a fresh binding offer to the board of Fortis Healthcare
New Delhi: Malaysia's IHH Healthcare Berhad on Tuesday said it has made a fresh binding offer to the board of Fortis Healthcare.
The binding offer is valid till 16 July, 2018, IHH Healthcare Berhad said in a regulatory filing.
IHH on Tuesday issued a letter to the board of Fortis "setting out a binding offer, which supersedes and replaces the enhanced revised proposal," it added.
"In the event IHH does not receive any response from Fortis by no later than 5 pm IST on 16 July, 2018, the binding offer shall be deemed to have been withdrawn," IHH Healthcare Berhad said.
The company, however, did not provide any details about the size of the bid.
Cash-strapped Fortis Healthcare had set 3 July as the deadline for the submission of the fresh binding bids. The company had earlier scrapped its decision to opt for the offer by the Munjal-Burman combine to invest Rs 1,800 crore in the company.
Earlier, Fortis Healthcare had received binding bids from four suitors -- Munjal-Burman combine, TPG-Manipal consortium,
Malaysia's IHH Healthcare Berhad and KKR-backed Radiant Life Care.
China's Fosun Healthcare had not made a binding bid for the company.
Rahul Gandhi’s Cambridge University remarks fuel row: 7 times when Congress leader has tarnished India’s image abroad
Rahul Gandhi in his ongoing visit to the United Kingdom spoke about the attack on democracy in India at Cambridge University. The Congress leader’s comment is just one of the many times he has targeted the country and the government while being on foreign soil
Malaysia: Anti-graft authorities question former prime minister following allegations of misuse of pandemic funds
Muhyiddin Yassin was prime minister for 17 months between 2020 and 2021, at the height of Malaysia's battle against the coronavirus, and now leads an opposition coalition
Malaysia ex-PM Muhyiddin Yassin pleads innocent in corruption case
Former Prime Minister Muhyiddin Yassin was charged Friday with corruption and money laundering, making him Malaysia's second ex-leader to be indicted after leaving office