Fortis has been in the middle of a five-way bidding war with local and international suitors wanting to invest in the firm or buy it. Photo: Ramesh Pathania/MintBengaluru: Fortis Healthcare Ltd on Monday said that the consortium of Hero Enterprise Investment Office and Burman Family Office, which won a five-way bidding war for the Indian firm, has permitted re-opening the bidding process, amid shareholder concerns over the board’s choice of the underdog. Though permitted to re-open the bidding, Fortis had not yet made a decision on the matter, a spokesperson told Reuters. Fortis has been in the middle of a five-way bidding war with local and international suitors wanting to invest in the firm or buy it. Manipal sweetened its offer for a fifth time after the Hero-Burman offer was selected, and IHH extended the acceptance period for its offer.

Source: Mint May 28, 2018 07:03 UTC