IHH Healthcare is said to make open offer for Fortis Healthcare
SINGAPORE (March 14): Malaysia’s IHH Healthcare is set to launch a voluntary open offer to buy the non-promoter shares of Fortis Healthcare in the next few days, the Economic Times reports, citing multiple sources familiar with the matter.
* Citi will advise on the process and is preparing $1b to fund share purchase
* Talks are currently on with banks to tie up financing
* IHH is unlikely to seek to acquire promoters’ shares for now
* IHH spokesperson told ET co. doesn’t comment on market speculation
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