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RHT Health Trust queried amid talk of shareholder buyout
RHT Health Trust on Monday was queried by the Singapore Exchange on unusual share-price movement, which comes as a Bloomberg report said major shareholder Fortis Healthcare is considering a buyout.
The stock was up 3.5 Singapore cents, or about 4 per cent, to S$0.90, as at 10.51am. The regulator has sought an explanation for the share-price movement.
Bloomberg said Fortis Healthcare, India's second-largest private hospital chain by market value, is weighing a buyout of the Singapore-listed business trust that owns some of its clinics.
IHH Healthcare is also among strategic bidders considering an investment in Fortis Healthcare, according to unidentified sources cited by Bloomberg. They are competing with KKR & Co, TPG and Bain Capital, which have also been in talks about a possible deal with the Indian hospital operator, Bloomberg reported.