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Manipal further sweetens offer for Fortis Healthcare

Press Trust of India  |  New Delhi 

The Manipal-combine today revised the offer for Healthcare by committing to invest in the at Rs 180 per share, thus increasing the valuation to Rs 9,403 crore.

In a regulatory filing, Healthcare Ltd (FHL) said it has received revised offer from Manipal and with a proposal to invest in the company, while making public a letter sent by (MHEPL) to the board.

Having lost out to the Munjal-Burmans combine last week, Manipal-which was the first to make a offer to Ltd, said that for purposes of the merger, a value of Rs 9,403 crore shall be attributed to FHL under its revised offer.

On the other hand, a value of Rs 6,070 crore shall be attributed to MHEPL as had been originally determined by the independent valuers of for the purpose of the transaction, it said in the letter.

"The preferential allotment shall be undertaken at a price of Rs 180 per share. For purposes of the merger, a value of Rs 9,403 crore shall be attributed to FHL and a value of Rs 6,070 crore shall be attributed to MHEPL as had been originally determined by the independent valuers of for the purpose of the transaction.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 20:31 IST
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