IHH is the world's second-largest provider of integrated healthcare services in terms of market cap (around $13 billion), and is the largest private healthcare provider in Asia.
IHH, in a letter dated April 11 made public by Fortis on Friday, said it was offering to buy Fortis due to the "inability of the statutory auditors of (Fortis) to opine on its financial position as at December 31, 2017 and regulatory investigations that are now underway".
The rest Rs 750 crore shall given after due diligence subject to the satisfaction of the investors which will be completed in three weeks, the letter added.
Fortis shares jumped as much as 4% on Thursday to reach 153.9 rupees - their highest level since March 27, when Manipal made its first offer public.
This is our proudest victory, says Vincent Kompany
Firstly for him, coming to this league for the first time, and then we had to take on all this information he was giving to us. He called on team-mates to do what they were unable to after their previous two titles, and retain...
Tax deadline: Things to know about filing taxes
Santa Barbara County residents and businesses qualify for a tax-filing extension from the Internal Revenue Service ( IRS ). The most popular planned use of tax refunds, coming in at 43%, is adding the money to their savings.
Meanwhile a statement from the Fortis Healthcare said that the proposal is under evaluation by the company.
The new offer values Fortis' hospital business at ₹6,061 crore or ₹116 a share. Brothers Malvinder Singh and Shivinder Singh have resigned from the company and have lost control of their shareholding due to mounting debt.
"We confirm you that on April 11 2018 the Board of Directors of the Company have received an unsolicited non-binding expression of interest from IHH Healthcare Berhad for possible due diligence and participation with the Company", according to an communication sent by FHL to the National Stock Exchange and BSE on Friday.
The Kuala Lumpur-based company told the Fortis board it wants to work with them on a friendly offer, according to one of the people. Ranjan Pai, chairman, Manipal Education and Medical Group, in an interview to VCCircle had said that given the complexity of the deal structure, the relative valuation has not been properly understood.
Earlier this week, MHEL increased its offer to buy FHL's hospital by about 21 per cent in response to opposition by minority shareholders who complained that the deal was undervalued. A representative for IHH declined to comment, while a spokesman for Fortis said he couldn't immediately comment.
Guardiola's players will focus on those targets once they have recovered from a boisterous evening of celebrations in Manchester. Firstly for him, coming to this league for the first time, and then we had to take on all this information he was giving to us.
Salah derided the Premier League's ruling on Twitter and was backed up by several of his Liverpool teammates. Kane, however, has an extra game over Salah as Spurs have played 32 matches while Liverpool have played 33.
He last visited Japan in August 2016 for a trilateral meeting with his South Korean and Japanese counterparts. Wang said any parties, including Japan, welcome the recent important changes on the peninsula.
Bartolo Colon made a bid for history on Sunday, carrying a bid for a flawless game into the eighth inning against the Astros. Chirinos' hit off Hector Rondon (1-1) made a victor of Keone Kela (2-0), who escaped a two-on, two-out jam in the ninth.
But what can not be argued against are the records that City have smashed on their way to the title this season. He said: " Paul Tierney was unlucky in one decision but I don't blame him at all - it's football ".
Russian and Iranian military help in the past three years has let Assad crush the rebel threat to topple him. 'I knew they would seize on this but felt it is such a great Military term, it should be brought back.
While earlier, there was an assumption of privacy in that it was possible that Facebook deleted files after they were downloaded. The report also claimed that this new feature was introduced for Android users between version 2.18.106 and 2.18.110.
France, the United Kingdom and the United States will brief allies on actions taken in Syria, the official said. No military measures were immediately announced, but in a clear warning to the US and its allies, Col.
Russia says Syria chemical attack 'staged'
UK Prime Minister Theresa May and US President Donald Trump agreed on the need to deter chemical weapon use in Syria . Trump, ignoring Mattis' warning, pushed USA military leaders to develop a plan to attack the Syrian Government .
India arrest politician in alleged rape case as outrage mounts
These two ministers had gone to pacify the people, but subsequently, their presence was mistaken for trying to shield the accused. However, sources said the final decision on cabinet reshuffle could be taken only after a report was submitted to Shah.
Iran Slams Arab League Summit's Final Statement
The four countries severed diplomatic and transport ties with Qatar last June, accusing it of supporting terrorism. Doha denies the charges and says the boycott is an attempt to impinge on its sovereignty.
Man City moves to brink of clinching title
But a United defeat against Bournemouth in midweek or a City win over Swansea next Sunday would wrap up the silverware. Guardiola knows the Premier League is one hard slog but his time have oozed true class and will be worthy champions.
2 hurt in Lansing house fire
A woman has died following a Saturday evening house fire in Akron's Middlebury neighborhood, east of downtown, officials say. Hickory Township Volunteer Fire Department responded and found Taylor laying in an upstairs hallway.