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 saga continues: Munjal-Burman give consent to reopen bidding process, express anguish over 'indecision'
Fortis Healthcare, however, did not clarify whether it will re-open the bidding process.
Three directors of Fortis Healthcare have quit ahead of a shareholder vote on Tuesday to decide their future, the company said, the latest twist in a prolonged takeover battle for the hospitals operator
Last evening, Fortis Healthcare had announced that its board had picked the offer from Munjals-Burmans combine over four other suitors who made binding offers
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
1 May is the deadline for binding offers for Fortis, which will be evaluated by an expert advisory panel. The board is set to meet on 10 May.
Fortis stake sale: Munjals, Burmans extend validity of 'improved binding offer' to 4 May amid five-way tussle
Fortis Healthcare said Hero Enterprise Investment Office and Burman Family Office have extended validity of their 'improved binding offer' till 4 May, 2018
Fortis Healthcare expresses inability to engage with IHH Healthcare owing to pact with Manipal Health Enterprises
Fortis Healthcare has expressed inability to engage with IHH Healthcare over its acquisition offer due to binding agreements with Manipal Health Enterprises