more-inThe consortium comprising Hero Enterprise Investment Office and Burman Family Office has given its consent to Fortis Healthcare Ltd for reopening the bidding process. The consortium, it may be recalled, has been picked by the board of Fortis for the takeover of the company. In a letter to the company’s board on Monday, the Hero-Burman group acknowledged stakeholders’ preference for reopening the bidding process. Manipal-led combine sweetened its offer for a fifth time after the Hero-Burman offer was selected. The Hero-Burman combine said that it had decided to give its consent for the re-opening the bidding process to help Fortis “expeditiously finalise and close its fund-raising so that the company does not suffer any further”.

Source: The Hindu May 28, 2018 09:56 UTC