Ltd, which had agreed to acquire Fortis Healthcare Ltd’s hospital business, has submitted a revised offer in backdrop of mounting pressure from minority shareholders. The revised offer pegs Fortis hospitals’ equity valuation at Rs6,061 crore (Rs116 per share)—an upward revision of about 21% from the previous offer, said a statement from Manipal Hospital. The revised offer values Fortis Healthcare at Rs155 /share. After the completion of the Fortis-Manipal deal, Manipal Group will work with Fortis Healthcare to enable the merger of SRL Ltd into the latter, it said. “We hope that our revised offer addresses the concerns certain Fortis shareholders had raised and believe this offer is in the interests of all stakeholders, including Fortis’ shareholders,” said Manipal Group chairman Ranjan Pai.

Source: Mint April 10, 2018 17:15 UTC