Fortis Healthcare to form panel to evaluate takeover bids

(Reuters) - India's Fortis Healthcare Ltd, which runs around 30 multi-speciality hospitals in India, said on Thursday its board will set up an advisory committee to evaluate all takeover proposals.

Fortis has become the target of a takeover battle with Malaysia's IHH Healthcare Bhd, local rival Manipal Health Enterprises Pvt Ltd, a consortium of Hero Enterprise Investment Office and Burman Family Office, and China's Fosun International Ltd bidding for the cash-strapped company.

The committee, which will be chaired by PricewaterhouseCoopers India's former chairman and CEO Deepak Kapoor, will oversee the evaluation process and give its recommendation to the board in a meeting on April 26, Fortis said in a statement.

 

(Reporting Krishna V Kurup in Bengaluru; Editing by Biju Dwarakanath)