Singapore
AS more suitors join in the pursuit of India's Fortis Healthcare, Singapore-listed IHH Healthcare is doubling down with a dowry offer of up to 40 billion rupees (S$796 million) for a stake in the Indian hospital chain.
Should the offer materialise and get accepted, it could be one of the biggest equity transactions abroad by a Singapore-listed firm.
IHH's latest move came ahead of yesterday's meeting by the board of Fortis to consider its options amid bids by various parties.
In a regulatory filing yesterday, the Malaysian healthcare firm said it "issued a strictly non-binding letter "to the Fortis board on Wednesday, expressing its readiness to inject up to 40 billion rupees through a...