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... read more

Cash-strapped Fortis Healthcare had set July 3 as the deadline for the submission of the fresh binding bids read more

The Munjal-Burman combine, TPG-Manipal consortium and Malaysia’s IHH Healthcare have been invided to participate in the fresh round of bidding. read more

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. read more

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. read more

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. read more

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 read more