New Delhi : Malaysian firm IHH Healthcare 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 the cash-strapped healthcare chain.
Earlier, out of four directors whose removals were sought by two institutional investors, three directors – Harpal Singh, Sabina Vaisoha and Tejinder Singh Shergill – had resigned ahead of an EGM called to vote on the matter.
“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 Healthcare (FHL).
