HCA Inc. (HCA) Shareholders Approve Second Largest Buy-Out Ever
HCA Inc. shareholders on Thursday overwhelmingly approved a $21.3 billion leveraged buyout -- the second largest ever in the U.S. -- that will take the nation's No. 1 for-profit hospital chain private.
Company officials announced in a meeting at its Nashville headquarters that 283.2 million shares, or 72.9 percent, were voted for the deal while 32 million, or 8.2 percent, were opposed. There are about 388 million shares outstanding, but only 82 percent of them were present for the vote, HCA officials said.
The deal is the largest, excluding debt, since the $25.1 billion leveraged buyout of RJR Nabisco Inc. in 1988, according to Thomson Financial.
Company officials announced in a meeting at its Nashville headquarters that 283.2 million shares, or 72.9 percent, were voted for the deal while 32 million, or 8.2 percent, were opposed. There are about 388 million shares outstanding, but only 82 percent of them were present for the vote, HCA officials said.
The deal is the largest, excluding debt, since the $25.1 billion leveraged buyout of RJR Nabisco Inc. in 1988, according to Thomson Financial.
Labels: HCA, leveraged buy-out, Nabisco
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