Mumbai: The Fortis Healthcare board will meet this week to "look at all eligible options" as two more parties have entered the fray to acquire the healthcare firm after it inked a binding pact with Manipal Health Enterprises for the same.
The company's statement comes hours after Malaysia's IHH Healthcare said Fortis had expressed inability to engage with it over its offer to acquire the company due to its pact with Manipal Health Enterprises.
The development led to the Fortis shares ending with losses of nearly 2 per cent at Rs 149 on bourses.
Last week, IHH had joined the race to acquire the troubled Fortis Healthcare, offering to acquire its shares at up to Rs 160 apiece, higher than Manipal's Rs 155 which valued the company at Rs 6,061 crore.
The Malaysian firm's offer came a day after Sunil Kant Munjal-led Hero Enterprise Investment Office and Burman Family Office offered to invest Rs 1,250 crore in the healthcare chain at up to Rs 156 per share.
"The Fortis board will be meeting this week to look at all eligible options and determine the future course of action that is in the best interest of the company, employees and shareholders," Fortis Healthcare said in a statement.
Last week, Fortis had received two binding offers - one is a revised offer from Manipal Health Enterprises and the second is a joint binding offer from Hero Enterprise Investment Office and Burman Family Office expressing interest in the company, it added.
In addition, the company has received a non-binding expression of interest from IHH Healthcare Bhd, the statement said.
Manipal had raised its offer for Fortis to Rs 155 per share by valuing the hospital business higher at Rs 6,061 crore, from Rs 5,003 crore initially.
In the letter to the directors of FHL last week, Tan See Leng, managing director and group CEO of IHH Healthcare Berhard, had expressed his company's "strong interest in Fortis Healthcare Ltd and its affiliates in a suitable manner".
Meanwhile, proxy advisory firm, IiAS said that shareholders of Fortis Healthcare need an objective and independent decision-making body to advise its board on the company's sale.
