Fortis Healthcare On Backing Munjals And Burmans In Takeover Battle

  • Healthy process was carried out to determine right suitor for Fortis
  • We believe we have had a healthy process to determine who would be the right fit
  • We looked at different binding views from the perspective of certainty
  • Looked at all bids from point of view of liquidity and continuity
  • Hero – Dabur Group got the maximum votes from the Board
  • Liquidity, certainty and risk were taken into consideration for selecting winner
  • Manipal deal was not the favourite among the Board
  • Requested resignation of Singh brothers form SRL board
  • Certainty required that funds flow straight into company
  • Shareholder meeting will be in 30 days
  • Two shareholders, who have over 10 percent equity, have requested EGM on May 22
  • Five out of eight members are relatively new to join board
  • Three oldest members of the board voted for Hero Manipal Group
  • Board meeting went on for 15 hours.
  • We expect the forensic audit report before the end of May

Find Out About All Your Stock Market Queries On #AskBQ