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Second time lucky for IHH Healthcare in its quest for Fortis Healthcare?

PC Lee
PC Lee3/20/2018 03:14 PM GMT+08  • 3 min read
Second time lucky for IHH Healthcare in its quest for Fortis Healthcare?
SINGAPORE (Mar 20): The Economic Times reported that IHH Healthcare is set to launch a voluntary open offer for Fortis Healthcare. This comes nine months after walking out of bilateral talks with promoters Malvinder and Shivinder Singh who were then in co
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SINGAPORE (Mar 20): The Economic Times reported that IHH Healthcare is set to launch a voluntary open offer for Fortis Healthcare. This comes nine months after walking out of bilateral talks with promoters Malvinder and Shivinder Singh who were then in control of Fortis.

"We do not rule out the possibility that IHH could still be interested in Fortis Healthcare despite walking out on the negotiations in mid-2017, as Fortis Healthcare’s share price has fallen some 23% to the last closing price of INR152.55 ($3.08) from INR200," says lead DBS analyst Rachel Tan in a Tuesday report.

Last year, IHH secured a warchest of US$2 billion ($2.6 billion) multi-currency bonds and issued US$500 million of perpetual securities.

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