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Manipal Hospitals raises bid for Fortis hospital business


By Ismail Shakil(Reuters) - Manipal Hospitals Enterprises Private Ltd raised its offer to buy rival Fortis Healthcare Ltd's hospital business by about a fifth in an attempt to win over minority shareholders opposed to the deal.The new offer values Fortis' hospital business about 21 percent higher at 60.61 billion rupees ($933.3 million), or 116 rupees per share, Manipal Hospitals said in a statement late on Tuesday.Manipal first offered to buy Fortis last month in a deal that would combine its 14 hospitals with Fortis's portfolio of 34 hospitals, creating a 150 billion rupees company and ...

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First Published: Wed, April 11 2018. 10:54 IST