GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Fortis Healthcare Pulls Out of Amalgamation Scheme With Fortis Malar, SRL

The scheme could not be completed even after 19 months due to reasons beyond the company's control, Fortis Healthcare said in a statement late on Wednesday. Fortis Malar runs a super speciality hospital in Chennai while SRL operates a chain of pathology clinics.

Reuters

Updated:June 14, 2018, 9:43 AM IST
facebookTwittergoogleskypewhatsapp
Fortis Healthcare Pulls Out of Amalgamation Scheme With Fortis Malar, SRL
A Fortis hospital building is pictured in Gurgaon. (Reuters)
Loading...
Fortis Healthcare Ltd on Wednesday withdrew the scheme of arrangement and amalgamation with its units Fortis Malar Hospitals Ltd and SRL Ltd, citing a delay in its completion.

The scheme could not be completed even after 19 months due to reasons beyond the company's control, Fortis Healthcare said in a statement late on Wednesday.

Fortis Malar runs a super speciality hospital in Chennai while SRL operates a chain of pathology clinics.

Given the headwinds in the sector and less-than-optimum performance of the diagnostics business during the period of delay, the scheme may not result in optimum value for shareholders, Fortis added.

The cash-strapped hospital's operator, which has become the target of a bidding war, earlier this month said it would look at a new round of bids from four local and international parties and fixed June 14 as the last day for the submission.
| Edited by: Puja Menon
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 180.35 3.23
PC Jeweller 83.80 6.68
Reliance 1,112.20 0.47
Infosys 706.05 1.19
HDFC 1,904.10 -1.95
Company Price Change %Gain
Yes Bank 180.35 3.23
PC Jeweller 83.55 6.64
Jet Airways 259.95 3.22
Indiabulls Hsg 792.80 2.40
IOC 141.45 3.10
Top Gainers
Company Price Change %Gain
Bharti Airtel 319.25 5.33
Yes Bank 180.35 3.23
BPCL 345.30 3.11
IOC 141.25 2.80
ONGC 146.85 2.48
Company Price Change %Gain
Bharti Airtel 318.80 5.32
Yes Bank 180.35 3.23
ONGC 146.95 2.58
NTPC 143.65 1.84
Asian Paints 1,340.05 1.51
Top Losers
Company Price Change %Gain
HDFC 1,904.10 -1.95
HCL Tech 961.20 -1.72
JSW Steel 293.10 -1.66
Wipro 333.10 -1.64
Titan Company 931.50 -1.34
Company Price Change %Gain
HDFC 1,904.15 -1.95
Wipro 333.10 -1.67
Larsen 1,411.55 -0.95
Adani Ports 368.95 -0.65
Sun Pharma 419.75 -0.57

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results