Gold Silver Reports (GSR) – Fortis Healthcare Rises: Radiant Revises Takeover Bid – Shares of the Delhi-based hospital chain operator rose as much as 1.38 percent to Rs 154. KKR-backed Radiant Life Care Pvt. Ltd. revised its offer for Fortis Healthcare Ltd. after the board of India’s second-largest hospital chain decided it would only consider binding bids.
Radiant Life Care made a binding offer to buy Fortis’ hospital in Mulund in suburban Mumbai with an immediate equity infusion of Rs 680 crore, according to its letter filed with stock exchanges.
Radiant Life’s Abhay Soi On Fortis Bid
✅ We were looking to bid for entire assets initially
✅ Will be difficult to determine true value for minority shareholders if strategic investor comes in
✅ Radiant would be interested in SRL as well and would like to be part of the diligence process
✅ Have proposed a full cash deal and not thinking about a merger at this point in time
