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Manipal Hospitals sweetens bid for Fortis hospital unit

Reuters 

(Reuters) - India's Manipal Hospitals Enterprises Private Ltd on Tuesday raised its offer price to buy Fortis Healthcare Ltd's hospital business by 21 percent, in an effort to douse any opposition from Fortis minority shareholders.The new offer values Fortis' hospital business at 60.61 billion rupees ($933.2 million), or 116 rupees per share, Manipal Hospitals said in a statement.The deal, unveiled late last month, was expected to run into opposition from Fortis minority shareholders as investors expressed their unhappiness by sending Fortis shares down 14 percent.Fortis Chief Executive ...

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First Published: Wed, April 11 2018. 00:07 IST
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