Photo: Ramesh Pathania/MintNew Delhi: TPG-backed Manipal Hospital revised its offer to acquire Fortis Healthcare again on Sunday, promising to infuse Rs2,100 crore at Rs160 per share, against an earlier proposal of Rs1,800 crore. TPG-Manipal used its exclusive agreement with Fortis that gave it the right to revise its proposal within five days after the bidding ends. Manipal also proposed merging with Fortis in a deal that would value the latter at Rs8358 crore. Manipal said that their offer does not require further due diligence and the proposal is binding and valid until 15 May. The combine of Munjal and the Burman family have offered to infuse Rs1,800 crore directly into Fortis as part of their revised offer.

Source: Mint May 06, 2018 10:41 UTC