Fortis Stake Sale

Fortis stake sale: Healthcare major extends deadline for submission of binding bids to 28 June

Cash-strapped Fortis Healthcare, which is in the process of finding a buyer, has extended the deadline for submission of binding bids to 28 June

Fortis stake sale: Board outlines fresh bidding process, bidders given 10 days for financial, legal due diligence

The bids should also provide a plan for funding Fortis’s acquisition of RHT Health Trust’s Indian assets, agreed in November, and options to private equity investors to exit Fortis’s unit SRL Ltd.

Fortis stake sale: Board invites fresh bids after terminating Munjal-Burman offer, sets 14 June deadline

Fortis Healthcare on Tuesday initiated a fresh time-bound bidding process for its sale after terminating the offer made by the Munjal-Burman combine

Fortis stake sale: Malaysia's IHH Healthcare Berhad extends validity of revised offer to 30 June

Malaysian firm IHH Healthcare Berhard on Friday extended the acceptance period for its enhanced revised proposal for acquiring Fortis to 30 June

Fortis stake sale: Three directors quit ahead of shareholder vote today citing personal reasons

The directors quitting is the latest twist in a prolonged takeover for Fortis, one of the country’s largest hospital operators.

Fortis stake sale: Independent director quits ahead of board meet tomorrow citing 'personal reasons'

The crucial stakeholders meeting to be held on 22 May to decide the fate of four independent directors -- Brian Tempest, Harpal Singh, Sabina Vaisoha and Gen Shergill.

Fortis stake sale: Malaysian firm IHH Healthcare back in race with bid validity extended to 29 May

IHH Healthcare had increased its offer to directly invest in Fortis Healthcare at Rs 175 per share on 1 May. It had initially made a non-binding offer to invest in Fortis at Rs 160 per share.

Fortis stake sale: Board opts for Munjal-Burman combine offer after five-way bidding war

The board of Fortis Healthcare on Thursday recommended the binding offer of the Munjal-Burmans combine to the shareholders after 18 months of hectic parleys

Fortis stake sale: Two major investors plan to vote against Manipal Hospitals-led consortium's potential take over

Two major investors in Fortis Healthcare plan to vote against a Manipal Hospitals-led consortium if that group is selected as the winning bidder