INSUBCONTINENT EXCLUSIVE:
Authors: TheIndianSubcontinent News AgencyA committee will share its recommendations to Fortis Healthcare board ahead of its meeting on May
10.Fortis Healthcare Ltd received a revised bid from Malaysia's IHH Healthcare Bhd, it said on Tuesday, in a continuing takeover battle for
the cash-strapped hospital chain operator
Fortis has been the target of five companies and investment groups, who are vying for control of its 30-odd hospitals in India, as the
country's private healthcare market is set to grow sharply
IHH's latest proposal includes an immediate equity infusion at Rs 175 per share and a subsequent equity infusion at a per share price not
exceeding Rs 175, the company said in a statement.The revised bid comes on the last day for submitting binding bids, which Fortis's expert
advisory committee will evaluate
The committee will share its recommendations to the board ahead of its meeting on May 10.Last week, IHH tweaked an earlier bid and offered
to immediately infuse Rs 650 crore under the binding portion of the proposal and subsequently invest up to Rs 3,350 crore under the
