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Manipal, TPG swoop in with sweetened bid for India's Fortis


By Aditi Shah and Alasdair PalNEW DELHI/LONDON (Reuters) - India's Manipal Hospital and private equity firm TPG Capital Management on Monday sweetened their bid to buy Fortis Healthcare Ltd, just days after the Fortis board said it favoured a rival offer to the dismay of many shareholders.Fortis shares rose as much as 4.2 percent to 155 rupees on Tuesday, marking their biggest intraday percentage gain in nearly two weeks.Fortis, late on Thursday, said it planned to accept an offer from Hero Enterprise Investment Office and Burman Family Office that would invest 18 billion rupees ($266.5 ...

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First Published: Tue, May 15 2018. 10:03 IST