Following months of intense negotiations, private healthcare provider Fortis Healthcare has accepted a $582 million offer for a 31.1% stake from Malaysia’s IHH Healthcare, triggering a mandatory cash open offer for a further 26% equity interest in the beleaguered Indian healthcare giant.
Once a darling of investors both domestically and internationally, Fortis Healthcare has finally put six months of negotiations to bed after accepting a takeover bid from IHH Healthcare that values the company at $1.29 billion.
Fortis has been attracting attention for all the wrong reasons since its intoxicating days ten years ago.
Founded in 1996 by wealthy industrialist Parvinder...
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