Fortis Healthcare’s investors sulk at Manipal deal but may smile if IHH Healthcare betters it
The Fortis Healthcare board appears to have signed definitive agreements but shareholders may have wanted to see what IHH has to offer, before signing off on it
Fortis Healthcare Ltd’s shareholders were playing a risky game by staying invested, even when there were enough signs of trouble all around. On Wednesday, the hospital firm’s shares fell by 13.4% after those hopes were dashed, as the company agreed to be acquired by Manipal Health Enterprises Pvt. Ltd in a complex all-stock deal.