IHH extends validity of its 'Enhanced Revised offer' for Fortis till June 30
Mumbai, May 25: Fortis Healthcare (FHL) on Friday said that Malaysia's IHH Healthcare Berhad has extended the validity of its "Enhanced Revised Offer" to invest in the company.
As per a BSE filing, FHL said that its Board has received a letter from IHH for extending the acceptance period for its offer to June 30 from the earlier date of May 29. IHH has proposed to invest directly into the company at Rs 175 per share cost.
"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..." IHH Healthcare Berhad's Managing Director and Group CEO Tan See Leng said in the letter to the Fortis Board.
The development comes just after a consortium of Manipal-TPG had extended the validity of its "modified" new offer till June 6 from the earlier date of May 29.
"We understand that the FHL board is still in the process of considering the modified new offer... in order to provide FHL board with sufficient time to consider our modified new offer, we propose to extend the validity of our modified new offer...," the Manipal Global Health Services said in a letter to the company's Board.
On May 14, the Manipal-TPG consortium had received the "modified" new offer which proposed to values the company at Rs 9,403 crore at a share price of Rs 180 per share.
However, the company's Board on May 10 decided to recommend the offer of the Munjal-Burman consortium for sale of its business to the shareholders for their approval.
Fortis' board had received offers from suitors such as Hero Enterprise Investment Office, Burman Family Office, Fosun Health Holdings, Malaysia's IHH Healthcare Berhad, Manipal Hospital Enterprises and Radiant Life Care for infusion of funds.
In addition, the validity extension of IHH's offer comes as the healthcare major's shareholders voted Director Brian W. Tempest out from the company's Board at the Extraordinary General Meeting (EGM) held on Tuesday. The EGM had sought shareholders approval on a resolution filed by a minority shareholders' group to induct and remove certain Board members among other clearances.
The resolution had sought shareholders approval to replace Tempest, Non-Executive Director Harpal Singh, and Non-Executive Independent Directors Sabina Vaisoha and Tejinder Singh Shergill from the Board.
Harpal Singh, Shergill, and Vaisoha resigned on Sunday citing personal reasons.
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8 children between ages of 1 and 14 dead after mass shooting in Louisiana, police say
Shreveport(US) (AP): A gunman in Louisiana killed eight children in shootings at two different homes early Sunday in the nation's deadliest mass shooting in more than two years, police in Shreveport said.
The victims ranged in age from one to about 14 years old, said Shreveport police spokesperson Chris Bordelon. A total of 10 were shot and some of the children were related to the suspect, Bordelon said.
The gunman later died after a chase with officers who fired at the suspect, Bordelon said. The suspect stole a car while leaving the scene of the shootings and was followed by police, according to Bordelon.
Police did not release the name of the suspect but did say he was an adult male. The shootings were the result of a “domestic disturbance,” Bordelon said.
Officials said they were still gathering details at the crime scenes south of downtown Shreveport — the two homes and a third location.
“This is an extensive scene unlike anything most of us have ever seen,” he said.
It was the deadliest mass shooting in the US since eight people were killed in a Chicago suburb in January 2024, according to a database maintained by The Associated Press and USA Today in partnership with Northeastern University.
At a news conference outside the residence where one of the shootings occurred, officials appeared stunned, requesting patience and prayers from the community as they sorted through multiple crime scenes.
“I just don't know what to say, my heart is just taken aback,” Shreveport Police Chief Wayne Smith said. “I cannot begin to imagine how such an event could occur.”
“This is a tragic situation — maybe the worst tragic situation we've ever had,” said Tom Arceneaux, mayor of the city in northwestern Louisiana with about 180,000 residents. “It's a terrible morning.”
Louisiana State Police say their detectives have been asked by Shreveport police to investigate. In a statement, state police say no officers were harmed in the shooting that involved an officer after a police pursuit into Bossier City on Sunday morning.
State police are asking anyone with pictures, video or information to share it with state police detectives.
Louisiana Gov Jeff Landry said in a statement that he and his wife were heartbroken. “We're deeply grateful to the law enforcement officers and first responders working tirelessly on the scene,” he added.
