India's Fortis Healthcare rules out Chinese & Malaysian bids

3 bids were received within days of Fortis Healthcare being put up for discount. The Fortis board formed an advisory committee, led by previous PwC India chairman Deepak Kapoor, which going to consider just "binding bids" & make a recommendation by April 25. The last call going to rest by the board, Fortis Healthcare Director Brian Tempest said. however ever ever the offers by the Malaysian & Chinese companies were "non-binding" in nature, their bids won't be considered. Earlier, smaller elect Manipal Healthcare lifted its offer by 20% to 60 bn rupees after minority shareholders lifted worries over a low valuation.

India's Fortis Healthcare to form committee to assess binding bids

(Reuters) - Indian infirmary operator Fortis Healthcare (FOHE.NS) going to Determine up an advisory committee to evaluate binding offers from suitors lining up to purchase the cash-strapped Inc. or take a stake. Fortis has become the target of a takeover Combat that includes offers from China's Fosun International (0656.HK) & Malaysia's IHH Healthcare (IHHH.KL). Hero & Burman, that together hold a three % stake in Fortis, upped their Former investment offer on Thursday. The advisory committee is Guessed to give its recommendation to the board on April 26. level Chartered Bank, financial adviser to Fortis, going to assist the advisory committee & the board, Fortis said.

Fortis Healthcare: Fortis Healthcare discount: Board forms panel to evaluate bids

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collected by :Lucy William