Manipal Health Enterprises Pvt. has proposed merging with Fortis in a deal that will value the latter at 83.58 billion rupees ($1.3 billion), translating into 160 rupees a share.
Fortis is discussing issuing around 40 billion rupees ($615 million) of new stock to TPG and Manipal through a preferential allotment, one of the people said.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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