Emdeon Investor Fights $3B Blackstone Buyout

Law360, New York (August 8, 2011, 4:25 PM EDT) -- A Blackstone Group LP unit’s $3 billion bid to take Emdeon Inc. private was crafted to benefit two major investment firms at the expense of the health care information technology company’s public shareholders, a class action lodged Friday in Delaware argues.

The $19 per share proposed buyout is being driven by the needs of investment firms General Atlantic LLC and Hellman & Friedman LLC, who control 70 percent of Emdeon’s shares and have clearly divergent interests from minority shareholders, plaintiff Harold Litwin contends.

H&F will hold...
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