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Hospital Corp. Buyout Offered

Associated Press

Hospital Corp. of America, one of the world’s leading hospital chains, disclosed today that management is making a leveraged buyout offer to the company of about $3.3 billion.

The company, which owns or operates more than 400 hospitals worldwide and is the largest manager of tax-exempt hospitals in the United States, said a group of managers has advised the board of directors of the intended proposal of $47 a share in cash for HCA’s 70.6 million shares outstanding. HCA’s stock soared in heavy New York Stock Exchange trading after the announcement.


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