Monday, May 31, 2010

Parkway Holdings shares sky-rocketed; Fortis could launch counter-bid against Khazanah

Following last week's Khazanah offer to buy up to 51.5% of Parkway Holdings shares, Parkway Holdings shares [P27.SI] soared 22.85% to end at $3.71 from $3.02.

Today, India’s Fortis Healthcare snapped up additional shares in the hospital operator to increase its holdings from 25.37% from 25.34%, setting the stage for a possible battle with the Malaysian state investor Khazanah. A counter-bid by Fortis is likely to up Khazanah's $3.78 offer.

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