Hospital Corp. Buyout Offered
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.