Shares of Fortis fell about 2% on Monday after the announcement by IHH and were down 1.87% around 0512 GMT, while trading in IHH shares listed in Kuala Lumpur was halted. Photo: Ramesh Pathania/MintMumbai:Malaysia’s IHH Healthcare Bhd said on Monday India’s Fortis Healthcare Ltd declined to engage with the company regarding a takeover offer, citing binding agreements with other parties. Some of Fortis’s minority shareholders are dissatisfied with the Manipal offer, and it is unclear if the IHH price appeals to them. Shares of Fortis fell about 2% on Monday after the announcement by IHH and were down 1.87% around 0512 GMT, while trading in IHH shares listed in Kuala Lumpur was halted. IHH said on Monday Fortis indicated it was unable to engage due to binding agreements with Manipal Health Enterprises Pvt Ltd, Manipal Global Health Services and private equity firm TPG Asia.

Source: Mint April 16, 2018 10:30 UTC