Fortis board meets today, IHH emerges front runner to buy controlling stake

The possible acquisition will allow the IHH to expand its footprint across the country

Malaysia-headquartered IHH Healthcare Berhad has emerged as a front runner to acquire controlling stake in Fortis Healthcare, sources aware of the matter said.

The board of Fortis Healthcare will meet on Friday to discuss fundraising plans, ending an intense four-month-long takeover battle. 

IHH, which is expected to pip TPG backed-Manipal Hospital in the acquisition race, is believed to have offered Rs 180 per share for Fortis Healthcare's assets.

Two other suitors — Hero Enterprises-Burmans and Radiant Enterprises — backed out of the race in