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IHH Healthcare kept at 'add' pending further developments on bid for Fortis

PC Lee
PC Lee4/17/2018 01:21 PM GMT+08  • 3 min read
IHH Healthcare kept at 'add' pending further developments on bid for Fortis
SINGAPORE (Apr 17): CIMB is not revising IHH Healthcare's FY18-20 earnings estimates pending further developments on its bid for Fortis.
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SINGAPORE (Apr 17): CIMB is not revising IHH Healthcare's FY18-20 earnings estimates pending further developments on its bid for Fortis.

On Apr 11, IHH made a non-binding offer of up to INR 160 ($3.20) per Fortis share in cash for both its hospital and diagnostic businesses.

But in the latest twist of events, Fortis' board of directors says they are unable to engage with IHH, citing binding agreements with Manipal Health Enterprises, Manipal Global Health Services and private equity firm TPG Asia, collectively known as Manipal-TPG.

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