Takeover battle: Fortis Healthcare board opts for Munjal-Burman offer

In their latest offer, the Munjal-Burmans have offered to invest Rs 18 bn in FHL through a combination of preferential issue of equity and warrants

Fortis Hospital

The takeover saga at Fortis Healthcare, one of India’s leading healthcare chains, reached the culmination on Thursday, with the board choosing the Hero Enterprises-Burman Family Office offer as the best for the hospital and diagnostic chain. “The Board, post having detailed discussions on the pros and cons of each offer, decided by majority, to recommend the offer of Hero Enterprise Investment Office-Burman Family Office (the last offer made on May 1, 2018)," Fortis Healthcare said in a statement to the BSE on Wednesday. Sunil Munjal, chairman of Hero ...