Race for Fortis: Just days after the Fortis board chose an investment offer worth Rs 1,800 crore from the Munjal and Burman Family Office consortium, leading Manipal-TPG to sweeten their bid the latter have now extended the deadline for accepting their offer. According to a statement filed by Fortis on the exchanges, the consortium has extended the date to June 6 for the board and July 20 for the shareholders to accept its offer, from \u00a0May 29th earlier. \u201cWe understand that the Fortis board is still in the process of considering the modified new offer. As you are aware, our modified new offer is valid until May 29, 2018 and in order to provide the FHL board sufficient time to consider the offer, we propose to extend the validity of our new modified offer,\u201d TPG backed Healthcare major Manipal said in the letter. Notably, Manipal\u2019s latest offer to Fortis for Rs 180 per share, valuing the company at Rs 9,403 crore. Notably, this is the highest binding offer received among the major contenders. The consortium also said it will invest Rs 2,100 crore upfront as part of the deal. The offer accepted by Fortis board of Munjal and Burman0-duo had made a binding offer to invest Rs 800 crore through a preferential share issue at Rs 167 apiece and Rs. 1,000 crore via preferential issue of warrants at Rs. 176 per warrant. Notably, in the latest EGM meeting held on Tuesday, the shareholders of the company removed Brian Tempest, the last remaining old member of Fortis\u2019 board. \u00a0 The shareholders of Fortis Healthcare, with majority, also approved the appointment of the three new independent directors on the board. The move is seen to have a bearing on the future of the Munjal\/Burman deal, as the new board which takes control of the company may review the bids. \u201cThis is a real offer. This is getting in the territory of a fair bid. Given (Manipal) already runs a large hospital chain they are probably in the best position to ring out synergies,\u201d Reuters reported an investor as saying adding that Fortis had not yet entered into a binding bid and could change its recommendation to shareholders. Fortis Healthcare shares were trading 1.6% down at Rs 142.5.