Munjal-Burman combine open to idea of rebid for Fortis Healthcare

The winning bidder has to pay over Rs 36 billion to the real estate trust based in Singapore, which controls many of the key hospital assets of Fortis

The Munjal-Burman combine is open to the idea of a rebid for Fortis Healthcare, and will not challenge such a decision by the proposed newly-constituted board, it is learnt. 

The duo is looking at improving its earlier offer of Rs 18 billion to buy Fortis, thereby upping the stakes in the battle. 

The Fortis board had last week accepted an offer from Hero Enterprise Investment Office and Burman Family Office. 

An extraordinary general meeting (EGM) was called on Tuesday to decide who takes control of Fortis. Although the EGM agenda was to recast the board including removal of four directors