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A bidding war for cash-strapped Fortis kicked off earlier this year after its founders, brothers Malvinder and Shivinder Singh, lost their shareholding due to debt, and allegations that the Singhs had improperly taken funds from the company.(Getty Images)

Malaysia’s IHH Healthcare wins Fortis hospitals deal, beats TPG-backed Manipal

By Ari Altstedter | Bloomberg
UPDATED ON JUL 13, 2018 10:09 AM IST
Malaysia-based IHH’s offer would invest Rs 40 billion directly in Fortis through a preferential allotment of shares at Rs 170 a share. The price is a 20% premium to Fortis’s closing level on Thursday. Fortis rejected a competing proposal backed by private-equity firm TPG.
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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.(Pradeep Gaur/Mint)
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.(Pradeep Gaur/Mint)

IHH Healthcare makes fresh binding offer for Fortis

By Press Trust of India | Press Trust of India, New Delhi
PUBLISHED ON JUL 03, 2018 03:52 PM IST
Cash-strapped Fortis Healthcare had set July 3 as the deadline for the submission of the fresh binding bids
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A Fortis hospital building is pictured in New Delhi, India.(REUTERS File Photo)
A Fortis hospital building is pictured in New Delhi, India.(REUTERS File Photo)

Fortis Healthcare to initiate fresh round of bidding

By Reuters | Reuters
UPDATED ON MAY 29, 2018 04:18 PM IST
The Munjal-Burman combine, TPG-Manipal consortium and Malaysia’s IHH Healthcare have been invided to participate in the fresh round of bidding.
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Fortis is in the midst of a heated takeover battle with five entities bidding for the company along with a upheaval at the boardroom, wherein several directors have been stepping down.(Ramesh Pathania/Mint)
Fortis is in the midst of a heated takeover battle with five entities bidding for the company along with a upheaval at the boardroom, wherein several directors have been stepping down.(Ramesh Pathania/Mint)

SEBI probes insider trading violation, other regulatory lapses at Fortis Healthcare

By Press Trust of India | Press Trust of India, New Delhi
PUBLISHED ON MAY 22, 2018 05:49 PM IST
Fortis is in the midst of a heated takeover battle with five entities bidding for the company along with a upheaval at the boardroom, wherein several directors have been stepping down.
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Brian Tempest, director, Board of Directors, Fortis Healthcare Limited, addresses a news conference in Gurgaon on Friday.(Reuters File Photo)
Brian Tempest, director, Board of Directors, Fortis Healthcare Limited, addresses a news conference in Gurgaon on Friday.(Reuters File Photo)

Opted for Munjal-Burman offer due to certainty, liquidity issues, says Fortis director

By Press Trust of India | Press Trust of India, Gurgaon
UPDATED ON MAY 11, 2018 05:37 PM IST
While five Fortis board members had voted in favour of the Rs 1,800-crore offer, three members had opted for other offers out of the four binding bids that Fortis Healthcare had received.
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Fortis Hospital in Noida photographed by Ramesh Pathania on 13th August 2012.
Fortis Hospital in Noida photographed by Ramesh Pathania on 13th August 2012.

Fortis gets improved Rs 1,800 crore offer from Munjals, Burmans

By Press Trust of India | Press Trust of India, New Delhi
UPDATED ON MAY 02, 2018 02:05 PM IST
Fortis Healthcare has already received binding offers from four entities - KKR-backed Radiant Life Care, IHH Healthcare, Manipal/TPG consortium, and Munjal and Burman family offices.
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Fortis, which confirmed the receipt of IHH’s revised offer, has received as many as five offers for control of its hospital business.(Parveen Kumar/Hindustan Times)
Fortis, which confirmed the receipt of IHH’s revised offer, has received as many as five offers for control of its hospital business.(Parveen Kumar/Hindustan Times)

IHH Healthcare revises bid for Fortis, offers Rs 650 crore for immediate infusion

By Reuters | Reuters
UPDATED ON APR 24, 2018 05:22 PM IST
IHH said it plans to infuse the amount via a preferential issue and allotment of shares at Rs160 per share for which it would be given the right to appoint two directors on Fortis board
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