Fortis board to meet soon to look at eligible options

IHH had last week joined the race to acquire India’s troubled Fortis Healthcare. Reuters

Fortis Healthcare on Monday said its board will meet this week to “look at all eligible options” as two more parties have entered the fray to acquire it after its pact with Manipal Health.

The statement comes hours after Malaysia’s IHH Healthcare said Fortis has expressed inability to engage with it over its offer to acquire the Indian healthcare firm at up to Rs 160 per share due to binding agreements with Manipal Health Enterprises.

IHH had last week joined the race to acquire India’s troubled Fortis Healthcare, offering to acquire its shares at up to Rs 160 apiece, higher than Manipal’s Rs 155 which valued the company at Rs 6,061 crore. The Malaysian firm’s offer came a day after Sunil Kant Munjal-led Hero Enterprise Investment Office and Burman Family Office offered to invest Rs 1,250 crore in the healthcare chain.

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