NEW DELHI: India’s capital markets regulator has asked the nation’s top court to allow Malaysia’s IHH Healthcare Bhd to proceed with its open offer for Fortis Healthcare Ltd, the Economic Times reported.
The Securities & Exchange Board of India said a “stay” in the open offer is not in the interests of public shareholders, the newspaper reported, citing a special leave petition filed by the regulator.
The offer was mandatory under the nation’s takeover code as the investor holds a 31.7% stake, according to Sebi.
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