Shares of Singapore’s Parkway (PARM.SI) opened 1.03% higher on Tuesday after Malaysian state investor Khazanah made an improved offer for the regional healthcare provider.

Around 0102 GMT, Parkway was traded at $3.92, higher than its Friday closing price of $3.88. Parkway shares were suspended from trading on Monday. 

 

Khazanah — in its biggest acquisition overseas — on Monday offered $3.95 per share for all Parkway shares it did not own in a move that valued the hospital operator at US$3.3 billion ($4.49 billion), topping the $3.80 offered by Fortis.  

 

Fortis said it would accept the Khazanah offer and use the $116.7 million profit from the sale of its 25% stake in Parkway to look for other opportunities in the region.