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We rummaged through some Fortis files. What we found isn’t pretty.

A majority of the bidders for Fortis will hold off on putting the full money down till they complete deeper due diligence. A close look at the company’s auditor’s notes and case files might explain why.
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anujgupta
26 Apr 2018 2 Mins Read 1 comments
Kamonkanok/Shutterstock
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Fortis Healthcare (FHL) is in a hurry to sell itself. And deep-pocketed suitors have lined up to buy, four of them pressing forward with binding offers. Yesterday, the FHL executive committee met to examine the four bid documents. Over at the ET Prime office, we were examining documents of a different kind — the company’s auditor’s notes
feel they didn’t. However, the structures of the binding offers reveal that all the bidders are hedging their bets — three of them have committed to only a limited initial investment and won’t put the full money down until they complete deeper checks. Here’s how the bids stack up. Take a close look, for they tell a story.
Fortis Healthcare (FHL) is in a hurry to sell itself. And deep-pocketed suitors have lined up to buy, four of them pressing forward with binding offers. Yesterday, the FHL executive committee met to examine the four bid documents. Over at the ET Prime office, we were examining documents of a different kind — the company’s auditor’s notes feel they didn’t. However, the structures of the binding offers reveal that all the bidders are hedging their bets — three of them have committed to only a limited initial investment and won’t put the full money down until they complete deeper checks. Here’s how the bids stack up. Take a close look, for they tell a story.

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