Shareholders Take Aim At HCA Buyout Deal

Law360, New York (July 28, 2006, 12:00 AM EDT) -- In a bid to block the proposed $21.3 billion purchase of HCA Inc. by three private equity firms, the hospital chain’s shareholders are taking legal action, this week filing a series of lawsuits against the nation's largest for-profit hospital operator.

As of Friday, at least four such lawsuits had been filed in a Nashville chancery court, alleging that HCA’s board of directors failed in its duty to shareholders and is not paying them enough in the proposed transaction, according to Dow Jones.

Under the proposed deal,...
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