Care Hospitals buyout: Max Healthcare sues TPG for 'breach of term sheet agreement'

Max Healthcare Institute has lodged a suit against TPG, the owner of Care Hospitals, in the Bombay High Court after the private equity firm favoured Blackstone’s offer over Max’s bid. The hearing is set to begin 3 May and Max Healthcare is claiming breach of their term sheet agreement over a “specific performance” clause. Max Healthcare has also claimed that their own offer was "shopped around to Blackstone despite a non-disclosure and exclusive agreement."

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