ISS Backs Glenview, Casts Shadow Over $8B Hospital Merger

Law360, New York (August 12, 2013, 1:19 PM EDT) -- ISS Inc. on Friday endorsed Glenview Capital Management LLC's efforts to replace the entire board of Health Management Associates Inc., a move that could signal a rocky road ahead for HMA's $7.6 billion merger with a rival hospital operator.

Glenview, HMA's largest shareholder, has been seeking since mid-July to oust the incumbent board, which it claims has overseen years of underperformance, with eight new directors.

The hedge fund opted for a consent solicitation — essentially a show of hands — rather than wait to run a...
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