IHH said to press $1.7 bil pursuit of India hospital firm

(Apr 19): IHH Healthcare isn’t giving up its pursuit of Fortis Healthcare, the Indian hospital chain that’s becoming the center of a takeover battle.

IHH, Asia’s most valuable hospital operator, has asked Fortis for three weeks to complete due diligence before making a potential binding offer, people with knowledge of the matter said.

It sent a letter to Fortis’s board Monday with the due diligence request following its cash purchase proposal last week valuing the company at as much as US$1.3 billion ($1.7 billion), according to the people, who asked not to be identified because the information is private.

---

Related Stories

• IHH Healthcare’s 3QFY2024 patmi remains flat at RM534 mil
• DBS raises target price for Parkway Life REIT to $4.80
• Parkway Life REIT’s French acquisition to be more than 1.6% accretive to DPU

---