Fortis Board selects Hero-Burman consortium bid

Fortis Healthcare on Thursday said that its Board will recommend the binding offer of the Hero and Burman consortium for shareholders' approval.

According to the healthcare major, the entire exercise for selecting the Hero and Burman consortium involved a process that witnessed "deliberation and recommendation" by an independent Expert Advisory Committee (EAC).

"The Board considered the views of the EAC, financial and legal advisors, and following extensive discussions arrived at this decision," the company said in a late night statement on Thursday.

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