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News Digest: Fortis open offer, Rs 100-bn digital boost for NE, and more

News DigestInvestors want higher price in Fortis open offerOn July 13, Malaysia’s IHH Healthcare Berhad outbid the Manipal-TPG combine to win the race to acquire Fortis Healthcare (FHL). According to IHH’s binding offer, it will invest Rs40 billion in the cash-strapped hospital chain via preferential allotment at Rs170 a share.Many feel that the stock has the potential to see an upside and can touch Rs240-250 levels within a year of the IHH deal going through. So they want to wait and not tender their shares in the open offer. The stock closed at Rs142 on the BSE on Friday. Read more

Wrangler owner looks to exit jeans businessVF Corp, owner of Lee and Wrangler jeans, is exploring strategic options for its denim business that could include a sale or spin off of the classic American brands, according to people familiar with the situation.
The apparel conglomerate has owned Wrangler and Lee for decades and they were once its core, but the company’s jeans sales have slowed in recent years as more women opt for yoga pants or premium denim brands like J Brand or Frame. Read moreModi also called for a collective effort to improve the quality of higher education in the country. Read moreThis is part of the NDA government’s vision document for ‘Digital North East 2022’, which was unveiled at a mega event here on Saturday. The document refers to around 50 digital initiatives planned for each state in the region. Read moreThe Foundation of Independent Financial Advisors (Fifa) was reacting to Agarwal’s remarks on a social media platform, that “individual investors’ interests have always been our true north and we will be delighted when India truly becomes the third least expensive country”.In the Morningstar Global Fund Investor Experience report 2017, India turned out to be the second most expensive country for equity mutual funds, of the 25 countries that were reviewed. Morningstar classified India in the “below average” category in the fees and expenses scorecard. Read more
Source: Business Standard