IHH is said to plan hostile Fortis bid if offer rejected

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NEW YORK (April 17):  IHH Healthcare plans to make hostile bid to buy a majority stake in Fortis Healthcare if its board doesn’t favorably consider the expression of interest presented on April 11, Times of India reports, citing unidentified people.

* Fortis board is scheduled to meet on April 19 to decide on offers from IHH, Manipal and Hero Enterprise-Burman family

* Fortis board may reject expression of interest made by IHH and accept revised offer of Manipal Group

* NOTE: Earlier, Fortis Says Board to Meet This Week to Look at Eligible Options

* NOTE: April 12, IHH Is Said to Propose Up to $1.3b Offer for Fortis, Topping TPG