Diabytes
IHH Healthcare News
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Pointing to the reason for the delay in the open offer, IHH Healthcare said it was on account of the stay imposed on it by the Supreme Court in the contempt case filed by Daiichi Sankyo.
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Last month, Fortis Healthcare had initiated a fresh time-bound bidding process for its sale after terminating the offer made by the Munjal-Burman combine.
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The development comes at a time when there is an uncertainty over the process of sale of Fortis as four of the directors, who had approved the Munjals-Burmans bid, are no longer on the company's board.
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Fortis Healthcare had received binding offers from four entities - KKR-backed Radiant Life Care, IHH Healthcare, Manipal/TPG consortium, and Munjal and Burman family offices.
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Fortis Healthcare has already received binding offers from four entities - KKR-backed Radiant Life Care, IHH Healthcare, Manipal/TPG consortium, and Munjal and Burman family offices.
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IHH had joined the race last week to acquire India's troubled Fortis, offering higher price than Manipal's Rs 155 a unit, which valued the company at Rs 6,061 crore.
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