(Reuters) - The Fortis Healthcare said on Friday its board had decided to consider offers from four parties in a fresh round of bidding for the hospitals operator, following a fierce takeover battle involving five suitors.
The board will evaluate bids from Hero-Burman group, a consortium of Manipal Health Enterprises and the private equity firm TPG, Malaysia's IHH Healthcare Bhd and Radiant Life Care Private Ltd, Fortis said in a statement http://bit.ly/2J0FIWo.
Fortis said it had received interest from "various interested parties" on Thursday and the board decided to consider these four offers.
An expected boom in India's private healthcare sector has sparked a keen interest in Fortis. Its board previously agreed to an investment offer of 18 billion rupees ($265 million) from the Hero-Burman group, but a lukewarm response from shareholders triggered the new bidding process.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Gopakumar Warrier)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app