$7.6B Health Management Takeover Approved By Shareholders

Law360, New York (January 8, 2014, 5:44 PM EST) -- Health Management Associates Inc. shareholders on Wednesday approved a roughly $7.6 billion takeover by Community Health Systems Inc., signing off on the same deal that prompted a hedge fund to oust the company’s board in August.

HMA shareholders voted overwhelmingly to approve the takeover with 98.7 percent of the votes cast at Wednesday’s special meeting in favor of the merger agreement, the companies said. The approval vote represents approximately 81.7 percent of HMA’s total outstanding common shares as of Nov. 22. The vote follows the HMA...
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