Evaluating unsolicited offer from Manipal Health Enterprises: Fortis

PTI New Delhi | Updated on March 27, 2018 Published on March 27, 2018

Fortis Healthcare today said it has received an unsolicited non-binding offer from Manipal Health Enterprises for transaction with the company. The healthcare provider was clarifying following media reports that the Manipal and Fortis boards may approve merger this week.

The healthcare chain, however, said its board is still evaluating the proposal received on March 23, 2018. The board of directors of the company has received an unsolicited non-binding indication of interest from Manipal Health Enterprises Pvt Ltd for possible transaction with the company, Fortis Healthcare said in a filing to the BSE. “The said proposal is still under evaluation by the management and no firm decision in this regard has been taken by the board,” it added.

Fortis Healthcare said it has already intimated the bourses earlier that its board had approved the enabling fund raising options of up to Rs 5,000 crore, including but not limited to qualified institutional placement, foreign currency convertible bonds or any other method and this has been approved by its shareholders. Shares of Fortis Healthcare were trading at Rs 143.75 per scrip in afternoon trade on the BSE today, down 2.67 per cent from their previous close.

Published on March 27, 2018
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