Fortis Healthcare sale: Now this company makes unsolicited bid

As per the offer, it would immediately infuse Rs 100 crore into the Indian hospital chain within the next 45 days, thereafter, subject to due diligence during the next three weeks it is ready to invest at at Rs 156 per share. Last week, Manipal Health Enterprises (MHE), which is backed by TPG Capital, had made a revised offer of Rs 155 per share

In the last one week,Fortis Healthcare received three offers - a revised offer from MHE, a joint bid from Hero Enterprise Investment Office-Burman Family Office, and a non-binding expression of interest from IHH Healthcare. Image source: Reuters

Fortis Healthcare has received another unsolicited bid. This time from Hong Kong-based Fosun Health Holdings, a wholly owned subsidiary of Fosun International Ltd. As per the offer, it would immediately infuse Rs 100 crore into the Indian hospital chain within the next 45 days, thereafter, subject to due diligence during the next three weeks it is ready to invest at at Rs 156 per share. Last week, Manipal Health Enterprises (MHE), which is backed by TPG Capital, had made a revised offer of Rs 155 per share.

“The total investment by Fosun with the proposal will be up to $350 million and shall not enable Fosun to hold 25% or more securities of Fortis,” read their offer.

In the last one week, the Gurugram-based hospital chain received three offers - a revised offer from MHE, a joint bid from Hero Enterprise Investment Office-Burman Family Office, and a non-binding expression of interest from IHH Healthcare. On Monday, the Malaysian firm IHH Healthcare announced that Fortis Healthcare rejected its offer, which was denied by the latter.

(By Ateeq Shaikh, DNA Money)

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