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Fortis Suitor Hikes Offer For Indian Hospital Chain After Board Accepts Rival Bid

Executive Summary

The takeover battle for India’s Fortis Healthcare has accelerated, with Manipal Healthcare, backed by US investment management firm TPG Capital, raising its offer for the troubled hospital chain against the backdrop of a messy dispute over the bidding process. Malaysian suitor IHH Healthcare has also since extended its offer validity period.

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