Fortis bid: IHH Healthcare extends validity of offer

New Delhi: Malaysian firm IHH Healthcare Berhard on Friday extended the acceptance period for its enhanced revised proposal for acquiring Fortis to June 30 in the wake of changes in the Board of Fortis. “In order to enable the reconstituted Board to fully consider and evaluate our proposal, we now extend the acceptance period of the enhanced revised IHH proposal until 11.59 pm on June 30,” IHH Healthcare said in a letter to the directors of Fortis. IHH Healthcare, which had revised its offer to directly invest in Fortis at Rs 175 per share on May 1 from an initial non-binding offer to invest in Fortis at Rs 160 per share, had earlier stated that its enhanced offer would expire on May 29. PTI