Gurgaon : Majority of Fortis Healthcare’s board opted for the Munjals-Burmans offer keeping in mind the certainty and liquidity issues, the company’s director Brian W Tempest said on Friday.
While five board members had voted in favour of the Rs 1,800-crore offer, three members had opted for other offers out of the four binding bids that Fortis Healthcare had received.
“We looked at all the binding bids from the point of view of certainty and liquidity for the company…We took advice from the expert committee, from two financial organisations and from a legal organisation,” Tempest said.
When asked if the decision was unanimous, he said three members of the board, who have been with Fortis, voted for the Munjals-Burmans bid and out of five new members two voted for the bid and three voted for other options.
Another major reason for accepting the bid was that “they have several investments in the healthcare sector”.