Manipal-TPG extends validity of new Fortis Healthcare offer to June 6

The combine was the first to make a binding offer for the cash-strapped healthcare chain

New Delhi: Manipal-TPG combine has said it has extended the validity of its modified offer for Fortis Healthcare to June 6, 2018.

On May 17, Malaysian firm IHH Healthcare Berhard had extended the acceptance period of its enhanced revised proposal for Fortis to May 29.

In a letter to the directors of Fortis Healthcare Ltd (FHL), Manipal-TPG combine said it understands that the FHL board is still in the process of considering the modified new offer.

"As you are aware, our modified new offer is valid till May 29, 2018 and in order to provide the FHL board with sufficient time