Hotline: 1800 102 2007
Hotline: 1800 102 2007
Apr, 30 2018

Munjal-Burmans Seek level playing field in Fortis Acquisition deal

Munjal-Burmans have welcomed the move by the Fortis and hoped that the FHL board will repose their confidence in their bid.

Munjal-Burmans Seek level playing field in Fortis Acquisition deal

Hero Enterprise and Burman Family Office have asked for the equivalent opportunity for the bidding parties involved Fortis Healthcare acquisition.

"We have just heard about the announcement made by Fortis and are a bit surprised as we had assumed that the final bids were submitted and the process now was only to review and choose the best offer," Sunil Kant Munjal today said on the behalf of himself, Mohit Burman and Anand Burman in a statement.

The entity strongly believes that there should be an equal opportunity given to all bidders without any unfair advantage to any one party, it added.

Fortis Healthcare yesterday said its board will meet on May 10 to take a decision on the binding bids for the company as recommended by the expert advisory committee (EAC).

The committee will evaluate all binding bids received by the company from any party except Manipal and TPG consortium till 12 noon on May 1.

"In line with the obligations towards Manipal and TPG consortium, Manipal and TPG consortium will have the ability to provide a revised financial proposal till 12 noon on May 06, 2018 in relation to all binding bids received by the company anytime till 12 noon on May 1, 2018," Fortis Healthcare had earlier said in a regulatory filing.

The filing had further said, "In light of the above, EAC constituted by the Board of the company will evaluate all binding bids received from any party till 12 noon on May 01, 2018 and the revised binding financial proposals from the Manipal and TPG Consortium received till 12 noon on May 6, 2018."

Munjal-Burmans have welcomed the move by the Fortis and hoped that the FHL board will repose their confidence in their bid.

"Our offer is already the best one and in the larger interest of Fortis Healthcare, and all those connected with the company's ecosystem its shareholders, patients, their attendants, doctors, the community and public at large, besides lenders, suppliers, medical and non-medical staff," Munjal said.

The entity is keen to invest directly in the company and believe this is the best way to create value for all stakeholders, he added.

KKR-backed Radiant Life Care, Malaysian major IHH Healthcare, Manipal/TPG consortium and Munjal and Burman family offices have already given an offer to FHL.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Courier & Delivery
    About Us: InXpress has its origins in the world's largest Business..
    Locations looking for expansion Maharashtra
    Establishment year 2011
    Franchising Launch Date 2013
    Investment size Rs. 5lac - 10lac
    Space required 00
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • About Us: Education is responsible to make a nation great. We..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 2500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: As a Montessori preschool integrated with daycare, Bambino offers..
    Locations looking for expansion Kerala
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 2500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Thiruvananthapuram Kerala
  • About Us: Toniq focuses on affordable fashion accessories, jewellery and handbags...
    Locations looking for expansion Maharashtra
    Establishment year 2010
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities