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    Malaysia's IHH Healthcare likely to win Fortis deal with Rs 4,700-5,400 crore bid, says report

    Malaysia's IHH Healthcare likely to win Fortis deal with Rs 4,700-5,400 crore bid, says report

    Malaysia's IHH Healthcare likely to win Fortis deal with Rs 4,700-5,400 crore bid, says report
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    By CNBC-TV18  IST (Published)

    Malaysia-based IHH Healthcare is likely to seal the Fortis deal with Rs 4,700-5,400 crore bid, reported Mint.
    IHH has outbid rival bidder TPG-Manipal in the race to buy 51 percent stake in Fortis, the report said citing two people aware of the bid details.
    The Malaysian firm is now providing a higher per share offer to promoters besides an offer to buy out Fortis' non-promoter shareholders at a 10-15 percent premium to the agreed purchase price, the report said.
    Initially, as per the report, IHH will buy 25 percent stake in Fortis through a mix of direct acquisition and preferential allotment. This will be followed by an open offer to buy at least an additional 26 percent stake, the report said.
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