Wed, Mar 28, 2018
Fortis Chief Executive Bhavdeep Singh said the deal would be worth 150 billion Indian rupees ($2.3 billion), according to the estimated value of both firms and the cash involved. He did not give a breakdown of the cash and equity portions of the deal. But shares in Fortis slid on Wednesday, giving the company a market value of just 62.83 billion Indian rupees ($965 million) as investors expressed their unhappiness with the terms of the transaction.
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