Bidders Hike Offers For India’s Fortis As Acquisition War Intensifies

 
• By Penelope MacRae
  
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Leading Malaysian healthcare operator IHH and two Indian tycoons have sweetened their offers for cash-strapped Fortis Healthcare as the race for India’s second-largest hospital chain heats up.

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BIDDING WAR FOR INDIA'S FORTIS INTENSIFIES

The bidding war for India’s second-largest hospital operator, Fortis Healthcare, has intensified with Malaysia’s IHH and two Indian business tycoons raising their offers for the struggling company. Analysts say while Fortis is mired in financial trouble, the chain represents a significant buying opportunity for investors keen to tap into India’s fast-expanding healthcare market.

Kuala Lumpur-based IHH, Asia’s most valuable healthcare operator, boosted its partially binding Fortis offer to INR175 ($2.63) per share from...

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