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IHH’s offer is at a 19.5% premium to Fortis shares closing price on Thursday. Photo: Mint

Fri, Jul 13 2018. 08 30 AM IST

Fortis gets a ₹4,000 crore lifeline from IHH Health

Fortis says IHH Healthcare will invest Rs 4,000 crore at Rs 170 per share in the company that operates about 30 private hospitals

IHH Healthcare will first buy 25% in Fortis Healthcare through a mix of direct acquisition and preferential allotment and then make an open offer to buy at least 26% more. Photo: Ramesh Pathania/Mint

Mon, Jul 09 2018. 06 58 AM IST

IHH Healthcare likely to seal Fortis deal with ₹ 4,700-5,400 crore bid

IHH Healthcare has outbid TPG-Manipal to buy 51% stake in Fortis Healthcare and agreed to an open offer at a premium to average market price

The financial health of Fortis Healthcare forced Sunil Munjal (in photo) and Dabur’s Anand Burman to set aside the need for due diligence and invest in the company. Photo: Pradeep Gaur/Mint

Sat, May 12 2018. 11 47 AM IST

Fortis had just Rs70 crore in the bank, was in crying need of funds: Sunil Munjal

The board of Fortis Healthcare has approved a binding offer from Sunil Munjal’s Hero Enterprise and Dabur chairman Anand Burman’s family office

The meeting was continuing at the time of going to press. Photo: Ramesh Pathania/Mint

Thu, May 10 2018. 11 24 PM IST

Fortis panel yet to reach consensus on winning bidder

The panel has to decide between the offers by Manipal-TPG, IHH Healthcare and an unnamed Sunil Munjal-led entity

Manipal’s chief executive officer (CEO) Ranjan Pai on Sunday sweetened its bid for Fortis, offering to inject Rs2,100 crore ($312.8 million) to help the ailing hospital operator meet its immediate cash needs. Photo: Aniruddha Chowdhury/Mint

Mon, May 07 2018. 04 27 PM IST

Manipal-Fortis bid: Had to take ‘more risky’ approach, says Ranjan Pai

Manipal and its consortium partner TPG Capital are offering Rs160 per share to buy Fortis Healthcare, valuing the company at Rs8,350 crore

As many as three suitors have emerged for Fortis hospitals, including IHH Healthcare, and the Manipal Group and TPG Capital combine. Photo: Ramesh Pathania/Mint

Mon, Apr 16 2018. 09 03 PM IST

Fortis Healthcare raises Rs150 crore debt to stave off bankruptcy

Fortis Healthcare has raised Rs150 crore bridge loan from RattanIndia Finance to keep the struggling hospital operator afloat till it finds a buyer

Ranjan Pai, CEO and MD of the Manipal Education and Medical Group. The Fortis-Manipal deal is facing hurdles in the form of Fortis Healthcare shareholders, including Eastbridge Capital, a rival offer from IHH Healthcare, and, not to forget, Daiichi Sankyo’s arbitration case against former promoters the Singh brothers. Photo: Aniruddha Chowdhury/Mint

Mon, Apr 16 2018. 04 58 AM IST

Manipal & TPG’s relentless pursuit of Fortis hospitals: 18 months, 334 drafts

Many hurdles remain in the Fortis-Manipal deal to create India’s largest hospital chain, but Ranjan Pai is not ready to give up on the acquisition

With this offer unlikely to be revised further, a rival bid for Fortis from Malaysia’s IHH Healthcare Berhad is the only event that could tempt them into seeking a better deal. Graphic: Mint

Thu, Apr 12 2018. 08 15 AM IST

Fortis-Manipal revised deal a lesson in having your cake and eating it too

Manipal Group has stitched together a clever revised offer: Fortis shareholders get more for the hospital business, and they can remain invested in SRL Diagnostics through Fortis

Manipal Group chairman Ranjan Pai says a major concern for Fortis shareholders revolved around issues of structure of the deal and pricing, which have now been addressed. Photo: Aniruddha Chowdhury/Mint

Thu, Apr 12 2018. 04 36 AM IST

Day after TPG and Manipal sweeten Fortis offer, IHH plans fresh bid

IHH Healthcare, which is contemplating a cash offer for Fortis hospitals, plans to send a letter to the Fortis Healthcare board within the next couple of weeks with its bid details

The Fortis-Manipal deal is also likely to face hurdles from Japanese drug maker Daiichi Sankyo, which has been fighting a legal battle with Fortis Healthcare’s erstwhile promoters Malvinder and Shivinder Singh. Photo: Pradeep Gaur/Mint

Tue, Apr 10 2018. 10 46 PM IST

Manipal Group makes revised offer for Fortis hospitals

The revised offer pegs Fortis hospitals’ equity valuation at Rs6,061 crore—an upward revision of about 21% from the previous offer, says Manipal Group

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