Malaysian state investor Khazanah is set to make a general offer for Singapore healthcare firm Parkaway Holdings (PARM.SI), sources with knowledge of the deal said on Monday.

Khazanah is locked in a bidding war for control of Parkway with India’s Fortis Healthcare (FOHE.BO). It has made a partial offer to acquire 51.5% 

of Parkway at a price of $3.78 per share. 

 

Fortis has countered with a bid of $3.80 and Khazanah has until later in the day to respond.  

 

Khazanah declined comment on whether it will make a general offer. 

 

Fortis and Khazanah each currently own about 25% of Parkway.