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The acquisition will also boost UPL’s agrochemical and crop protection business.
IHH Healthcare outbid TPG-backed Manipal Health Enterprises Ltd by placing a higher per share offer for the promoters.
TPG-Manipal, which had earlier agreed to pay Rs 180 per share, may have lowered its bid.
Reliance Jio’s short-term plan is to engage with customers, and continue to add subscribers.
The enterprise value of Century’s cement business is pegged at Rs 8,561 crore and UltraTech will absorb debt of Rs 3,000 crore.
Malaysia’s IHH Healthcare Bhd. on Tuesday revised its offer to Rs175 per share from its earlier offer Rs160 per share, which it made on 24 April.
The statement also questioned an exclusive right that the TPG Capital-Manipal Health Enterprises Ltd combine has to revise its offer within five days after the bidding is closed.
This makes IHH the third entity after TPG-backed Manipal Hospital and an unnamed entity comprising Delhi-based businessman Sunil Munjal and some members of the Burman family to make a binding offer to an advisory committee set up by Fortis to evaluate the bids.
On Tuesday, the board of Manipal Education approved the merger of its hospital assets with that of Fortis Healthcare.
Led by Darshan Hiranandani, H-Energy expects to start commercial operation of its first LNG terminal at Jaigarh in Maharashtra by October.