A totally new twist has developed in the Fortis' bid for Parkway Holdings. Giving some relief to Fortis, which is trying to grab Parkway, the shareholders of the company have said that they are undecided over tendering their shares to Khazanah Nasional Berhad.

This has happened despite the deadline for the same has been extended.

Reports say that a consortium of Indian and overseas banks, led by Axis Bank, India's third largest lender, is mobilizing funds required to finance Fortis Healthcare's acquisition of Singapore-based hospital chain, Parkway Holdings.

The prospect of a commanding war to get control of Mainboard-listed healthcare services supplier, Parkway Holdings drives its stock higher on Friday.

Only a day after India's Fortis Healthcare association launched its voluntary general tender, Parkway shares saw profit of 7.28% to close at $3.83 with some 6.3 million shares changing hands yesterday.

As a scuffle between India's Fortis and Malaysian sovereign fund Khazanah to take over healthcare provider Parkway Holdings drags on, a fall in the Dow is likely to give Singapore stocks a tepid start.

After the Federal Reserve demoted its assessment of the economic upturn as it vowed to keep cheap money flowing, the U.S. stocks mostly fell in a variable session.

The value implied by Khazanah's fractional offer price for healthcare group Parkway Holdings is logical but it's not convincing in the milieu of a bid, involving a change of control, says Morgan Stanley.

It came to the termination after noting that Parkway shares are last trading above Khazanah's offer price of S$3.78 a share.

According to sources, Morgan Stanley has bought one lakh additional shares of Parkway. Parkway is the leading hospital chain in Singapore. Earlier there was a tussle between Fortis Healthcare and Khazanah to take control of this firm. Khazanah is a Malaysia based firm. But at last Morgan Stanley has managed to buy one lakh more shares.