April 16, 2018 / 5:18 AM / 4 months ago

BUZZ-India's Fortis drops; IHH says Fortis indicates inability to engage

** India’s Fortis Healthcare falls over 2 pct, extending decline into a second session

** Malaysia’s IHH Healthcare Bhd said Fortis had indicated its inability to engage with IHH

** Fortis has entered into binding agreements with Manipal Health Enterprises Pvt Ltd, Manipal Global Health Services and TPG Asia - IHH

** IHH last week offered to buy Fortis, sparking a potential three-way takeover battle amid bids from Manipal Healthcare Enterprises Pvt Ltd and another one from Indian investors - Sunil Munjal’s Hero Enterprise and the Burman Family Office

** Up to Friday’s close, Fortis stock had declined over 5 pct this year

** Trading in IHH shares were halted on Monday; earlier in the session, shares declined as much as 0.7 pct

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