Munjals-Burmans bid opted due to certainty, liquidity issues: Fortis

Majority of Fortis Healthcare's board opted for the Munjals-Burmans offer keeping in mind the certainty and liquidity issues, the company's director Brian W Tempest said on Friday.

While five board members had voted in favour of the Rs 18 billion offer, three members had opted for other offers out of the four binding bids that Fortis Healthcare had received.

"We looked at all the binding bids from the point of view of certainty and liquidity for the company...We took advice from the expert committee, from two financial organisations and from a legal organisation," Tempest told reporters here.

When asked if