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