Promoters' holding in Fortis Healthcare is down to 0.77%
17 April, 2018, 21:54 | Author: Wade Massey
On Monday, the Malaysian firm said the Fortis board sent it a response letter indicating that it was unable to engage with IHH due to binding agreements with Manipal Health Enterprises Private, Manipal Global Health Services and TPG Asia, according to Reuters. In addition, the company has also received a non-binding expression of interest from IHH Healthcare Bhd, the statement said.Manipal had raised its offer for Fortis to '155 per share by valuing the hospital business higher at '6,061 crore, from '5,003 crore initially.
The release added that the Fortis Board will take a decision that is in the "best interests" of the company, employees and shareholders.
The board of Fortis, in the meanwhile, will decide on the bids it had received for buying the company on April 19.
Separately, two Indian investors - Sunil Munjal's Hero Enterprise and the Burman Family Office - offered last week to make an investment worth 12.5 billion rupees ($191.5 million) in Fortis.
As reported by PTI, all the three options have different consequences for the future of Fortis and taking the right call will now be crucial.
Bolts take on Devils, aiming for 3-0 series lead
Taylor Hall is not happy that he's playing his first playoff game, or third playoff game, the guy wants to win". It's nearly expected from him now, and I am happy to see him keep getting rewarded.
As per the report, "Shareholders need a decision-making body that is objective, independent, and has a historical association with the promoter group or their companies".
IHH had on April 11 issued a non-binding letter issued on April 11 to Fortis expressing its interest to participate in Fortis and its affiliates.
"While the current situation at Fortis is unfolding in as dramatic a fashion as Sholay (Hindi movie) did, its fall from grace is perhaps similar to that of Satyam Computer Services", it said, The decision on which bid to accept can not be driven by valuation alone as there are questions regarding subsequent control and the issues regarding the current promoters' need to be dealt, it added.
In March, the Fortis board had approved demerger of its hospitals business, which was to be acquired by Manipal Hospitals and TPG Capital, along with the sale of 20 per cent stake in diagnostics chain SRL Ltd in a Rs3,900-crore deal.
Moon is set to meet the reclusive North Korean leader next Friday for what would be a third inter-Korean summit. Kim is to hold separate summit talks in coming weeks with the South Korean leader and U.S.
Head of the Liberia delegation at MEPC Isaac Jackson told The Loadstar Liberia could "fully support" the initial draft strategy. It called the move, agreed on Friday in London, "a first but critical step towards the industry's decarbonisation".
Two others, Harley Quinn Vs The Joker and Gotham City Sirens with Suicide Squad helmer David Ayer, seem further in the distance. She is still negotiating to star with Leo DiCaprio and Brad Pitt in Once Upon a Time in Hollywood .
When officers contacted Muntean Friday morning, he "exhibited similar behavior to the incident the prior evening", Wyatt said. Ulicny, 64, of Vienna, told police the 2008 Ford Expedition was stolen at gunpoint.
After the launch of the satellite, there will be a two-month testing before the real data starts flowing back to Earth from TESS. TESS is an Earth-orbiting instrument meant to spot faraway planets circling some 200,000 stars within 300 light-years of Earth.
After being led out onto the side of the pitch before kick-off, the bear lead a round of applause whilst stood on his hind legs. Even the announcer said that Tima will participate in the World Cup's opening ceremony in Moscow which is scheduled in June.
Eventually other officers were able to pry Ohene's arm from behind his back and handcuff his arms and shackle him at the ankles. Ohene's lawyers said in a statement that the incident "continues to be a trying ordeal for Selorm and for his family".
First Eagle Mgmt Limited Liability Company owns 12.97M shares or 1.28% of their USA portfolio. (NYSE: MRK ) for 19,238 shares. This is based on a 1-5 numeric scale where Rating Scale: 1.0 Strong Buy, 2.0 Buy, 3.0 Hold, 4.0 Sell, 5.0 Strong Sell.
7 inmates dead in 7-hour prison fight
At least seven people were killed after fights broke out at the Lee Correctional Institution in Bishopville, S.C., late Sunday. Emergency services from several SC counties responded to the "mass casualty incident", Lee County Fire wrote in a tweet.
Comey book goes on sale
The ex-FBI chief's comments in an ABC News interview are nearly certain to escalate his war of words with the president. Trump said in one of a series of tweets fired off Sunday before the interview .
Kendrick Lamar Awarded Pulitzer Prize for DAMN
The 2018 Pulitzer Prizes to mark the best in journalism was awarded at Columbia University in New York City on Monday. This award was given to the Press Democrat for the coverage of one of the most devastating wildfires in California.