May 11, 2018 / 3:57 AM / 11 days ago

BUZZ-India's Fortis Healthcare falls; board accepts Hero-Burman offer

** Shares of Fortis Healthcare Ltd fall as much as 3.2 pct to 148 rupees; biggest intraday pct fall in nearly four weeks

** Co’s board accepts investment offer worth 18 bln rupees ($267.7 mln) from the Hero-Burman consortium in a hotly contested battle for the cash-strapped hospital chain; offer would be sent to Fortis shareholders for approval

** Others in the takeover battle included Malaysia’s IHH Healthcare, a consortium of Manipal Hospitals and TPG Capital, Radiant Life Care, backed by KKR & Co, and China’s Fosun International

** In pre-open trade, Fortis stock rose as much as 2.7 pct

** Stock lost 4.7 pct this year as of Thursday’s close, while peer Apollo Hospital Enterprises Ltd shed about 15 pct during the same period ($1 = 67.2400 Indian rupees)

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