Khazanah Parkway bid "not compelling"
Singapore’s Parkway Holdings Ltd., Asia’s largest publicly listed hospital-management firm and former TPG Capital investee, has released its response to Khazanah Nasional Bhd.’s acquisition bid, saying that its financial advisor Morgan Stanley has found the offer “not compelling”, creating a hurdle for the $25 billion Malaysian SWF.
The news comes one month after Khazanah first announced its intention to raise its stake in Parkway Holdings, which had recently been exited by TPG Capital to India's Fortis Healthcare, by paying S$1.18...
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