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Malaysia's IHH says Fortis board declines to engage on takeover offer

Reuters  |  MUMBAI 

MUMBAI (Reuters) - Malaysia's IHH Healthcare Bhd said on Monday India's Fortis Healthcare Ltd declined to engage with the company regarding a takeover offer, citing binding agreements with other parties.IHH, one of Asia's largest healthcare operators, offered to buy Fortis last week at a price that values the hospitals chain at about $1.3 billion -- higher than the roughly $1.2 billion valuation an offer from Indian rival Manipal Health Enterprises Pvt Ltd gave it.Some of Fortis's minority shareholders are dissatisfied with the Manipal offer, and it is unclear if the IHH price appeals to ...

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First Published: Mon, April 16 2018. 11:36 IST
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