Fortis declined to engage on takeover offer: Malaysia's IHH
Malaysia's IHH Healthcare on Monday said that India's Fortis Healthcare declined to engage with the company regarding a takeover offer, citing binding agreements with Manipal Health Enterprises. IHH offered to buy Fortis at a price that values the hospital chain at about $1.3 billion beating Manipal's roughly $1.2 billion. Notably, Fortis is under investigation over alleged financial fraud.