IHH said to press $1.7 bil pursuit of India hospital firm

(Apr 19): IHH Healthcare isn’t giving up its pursuit of Fortis Healthcare, the Indian hospital chain that’s becoming the center of a takeover battle.

IHH, Asia’s most valuable hospital operator, has asked Fortis for three weeks to complete due diligence before making a potential binding offer, people with knowledge of the matter said.

It sent a letter to Fortis’s board Monday with the due diligence request following its cash purchase proposal last week valuing the company at as much as US$1.3 billion ($1.7 billion), according to the people, who asked not to be identified because the information is private.

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