Deals
Khazanah Offers S$3.5 Billion Cash to Buy Out Parkway
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Khazanah Nasional Bhd., Malaysia’s sovereign wealth fund, offered S$3.5 billion ($2.6 billion) for the rest of Singapore’s Parkway Holdings Ltd., beating Fortis Healthcare Ltd. for Asia’s biggest hospital operator.
Khazanah offered S$3.95 a share in cash for the 76.1 percent it doesn’t already own of Parkway, the Kuala Lumpur- based fund said in a statement today. That’s 3.9 percent more than the S$3.80-a-share bid by New Delhi-based Fortis on July 1.