Hedge Fund Could Play Spoiler Role In $7.6B Hospital Deal

Law360, New York (August 7, 2013, 6:58 PM EDT) -- The $7.6 billion merger of Community Health Systems Inc. and Health Management Associates Inc., which will play out as an activist hedge fund seeks to replace Health Management's board, has all the makings of a bruiser.

Health Management agreed last week to sell itself to Community Health for a mix of cash, stock and contingent payments valued at $3.9 billion, plus assumed debt. The merger — the largest hospital operator tie-up since 2006— is expected to close early next year. Meanwhile, hedge fund Glenview Capital Management...
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