Stock Market

Fortis stock slumps 2% after IHH flags logjam

   Download Android App    Share in      FullScreen   CheckVideos

Fortis Healthcare declined for the second straight day on Monday after Malaysia's IHH Healthcare said Fortis has declined to engage with the company on a takeover offer citing binding agreements with other parties. The scrip was trading 1.94 per cent down at Rs 149 at around 11.05 am (IST).

It opened at Rs 151.40 and touched high and low of Rs 152.20 and Rs 147.05, respectively, so far.

Benchmark Sensex was down 85 points, or 0.25 per cent, at 34,107 at around the same time. IHH, one of Asia's largest healthcare operators, had bid Rs 160 per share to buy Fortis last week, topping a Rs 155 per share offer from Fortis rival Manipal Healthcare Enterprises Private. On Monday, the Malaysian firm said the Fortis board sent it a response letter indicating that it was unable to engage with IHH due to binding agreements with Manipal Health Enterprises Private, Manipal Global Health Services and TPG Asia, according to Reuters. Fortis Healthcare had scaled 52-week high of Rs 230.90 on May 3, 2017, and 52-week low of Rs 106.65 on February 6 this year.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Stock Market


21