Fortis Healthcare board to decide on investment offers in April 19 meeting

While IHH says Fortis has declined to engage, the latter clarifies no decision yet

The board of directors of Fortis Healthcare will meet on Thursday to decide on investment offers received by the hospital chain.

Fortis has received two binding offers — a revised offer from TPG-backed Manipal Health Enterprises and a joint bid by Hero Enterprise Investment Office and the Burman family office — and a non-binding offer from Malaysia’s IHH Healthcare Berhard.

While IHH said on Monday Fortis had declined to engage with it on a takeover offer, citing binding agreements with other parties, Fortis informed the stock exchanges in the evening that its board had not taken a decision yet.

IHH, the world’s second-largest