Health Management’s New Board OKs $7.6B Takeover Bid

Law360, New York (November 13, 2013, 4:34 PM EST) -- Health Management Associates Inc.’s current board of directors approved a roughly $7.6 billion takeover by Community Health Systems Inc., under the same terms that prompted an activist hedge fund to oust the former board in August, according to a Wednesday statement.

The cash-and-stock offer includes the assumption of about $3.7 billion in debt and had originally been accepted by HMA’s former board in July, in the midst of Glenview Capital Management LLC's campaign to toss out the board through a consent solicitation. Glenview is the hospital...
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