Fortis Healthcare undecided on reopening bidding process
The Hero Enterprise Investment Office and Burman Family Office’s offer this month to invest 18 billion rupees ($267 million) in the company did not go down well with Fortis shareholders, who voted out a director last week. Three directors resigned ahead of the vote.
After the board had agreed to the Hero-Burman offer, Manipal sweetened its offer to 180 rupees a share. Image source: Reuters