INSUBCONTINENT EXCLUSIVE:
The non-binding part of the proposal is for subsequent infusion of up to 33.50 billion rupees.Reuters: Malaysia's IHH Healthcare Bhd on
Tuesday revised its proposal for India's Fortis Healthcare Ltd, making a binding proposal for about a fifth of its offer value, as the
battle for takeover of Fortis escalates.The revised offer includes a binding proposal for an immediate infusion of 6.50 billion rupees
($98.0 million).IHH plans to infuse the amount via a preferential issue and allotment of shares at 160 rupees per share for which it would
be given the right to appoint two directors on Fortis board, IHH said.The non-binding part of the proposal is for subsequent infusion of up
to 33.50 billion rupees.Earlier this month, IHH, one of Asia's largest healthcare operators, said it was ready to infuse 40 billion rupees
Rival hospital operator Manipal Healthcare Enterprises Pvt Ltd and a consortium of two prominent Indian business families have submitted a
and is published from a syndicated feed.)
