Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Equity Bottom-Up

IKang Healthcare Group (ADR) / Equity Bottom-Up

<p>Jiangsu Sanyou's newly-announced competing offer of US$22/ADS poses strong competition to the initial US$17.80/ADS bid from&nbsp;iKang's Chairman, and consistent with our thinking that an offer must exceed US$20/ADS to be fair to current holders. We think that iKang's special committee must take this bid seriously and prod the Chairman to top it.</p>

Jiangsu Sanyou's newly-announced competing offer of US$22/ADS poses strong competition to the initial US$17.80/ADS bid from&nbsp;iKang's Chairman, and consistent with our thinking that an offer must exceed US$20/ADS to be fair to current holders. We think that iKang's special committee must take this bid seriously and prod the Chairman to top it.

Meinian Onehealth Healthcare H (002044 CH)

IKang Healthcare Group (ADR)

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