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Malaysia's IHH Healthcare nears takeover of Fortis with $1.1 billion bid


By Tanvi Mehta and Alasdair PalMUMBAI/KUALA LUMPUR (Reuters) - Malaysia's IHH Healthcare Bhd is set to take control of India's Fortis Healthcare after its bid of up to $1.1 billion was chosen over a rival's, giving it ownership of over 30 hospitals amid a private healthcare boom in India.IHH's 170 rupees per share offer for as much as 57 percent of Fortis was chosen on Friday over a joint bid from Indian firm Manipal Health Enterprises Ltd and U.S. private equity firm TPG Capital.The offer represents a roughly 20 percent premium to its last closing price and caps a months-long bidding war for ...

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First Published: Fri, July 13 2018. 16:59 IST