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Suitors including Chinese conglomerate Fosun International Ltd. are vying for Fortis after the company’s founders lost control of their shareholdings due to mounting debt.(Parveen Kumar/Hindustan Times)

IHH asks for time to complete due diligence before making binding offer to Fortis

By Ari Altstedter and Elffie Chew | Bloomberg
PUBLISHED ON APR 18, 2018 05:52 PM IST
IHH is also seeking updated financial results and information related to the potential impact of Japanese drugmaker Daiichi Sankyo Co.’s attempts to collect a $550 million arbitration award from Fortis’s founders, sources said.
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