In attendance were management teams of Fortis Healthcare Ltd and a combine of Manipal Health Enterprises Pvt. Within 10 days, Manipal-TPG had to come up with a revised offer to sweeten the terms and allay the concerns of Fortis shareholders. If anything, the revised offer has brought into spotlight TPG Capital’s relentless pursuit of Fortis. The first challenge came from Fortis Healthcare shareholders, who felt the company had received the short end of the stick in the transaction. IHH, however, is looking to offer a cash deal and a minor premium over the revised offer tabled by Manipal-TPG.

Source: Mint April 15, 2018 23:26 UTC