MUMBAI: Malaysia’s IHH Healthcare Bhd said today India’s Fortis Healthcare Ltd had declined to engage with the company regarding a takeover offer, citing binding agreements made with other parties.

IHH, one of Asia’s largest healthcare operators, bid 160 rupees (RM9.52) per share to buy Fortis last week, topping a 155 rupees per share offer from Fortis’s Indian rival Manipal Healthcare Enterprises Private Limited.

Today, the Malaysian firm said the Fortis board sent it a response letter indicating it was unable to engage with IHH due to binding agreements with Manipal Health Enterprises Private Limited, Manipal Global Health Services and TPG Asia.

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