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HCA Shareholders Approve Merger
with Private Equity Consortium
Nashville,
Tenn., Nov 16, 2006 -— HCA Inc. (NYSE: HCA) announced today
that shareholders have voted to approve the proposed merger
agreement providing for the acquisition of HCA by an investor group
including Bain Capital, Kohlberg Kravis Roberts & Co., Merrill
Lynch Global Private Equity, HCA Founder Dr. Thomas F. Frist,
Jr. and HCA management.
Based upon the
preliminary tally of shares voted, 320.3 million shares were voted
at the special meeting, representing 82% of HCA’s total
outstanding voting shares. Of those shares voting, 283.5 million
shares voted in favor of the adoption of the merger agreement,
representing 72.9% of HCA’s total outstanding voting
shares.
Under the terms
of the merger agreement, HCA shareholders will receive $51 in cash,
without interest, for each share of HCA common stock held. The
transaction is anticipated to close on November 17.
HCA Inc. is a
holding company whose affiliates own and operate hospitals and
related health care entities. The term “affiliates”
includes direct and indirect subsidiaries of HCA Inc. and
partnerships and joint ventures in which such subsidiaries are
partners. At September 30, 2006, these affiliates owned and
operated 172 hospitals, 95 freestanding surgery centers and
facilities which provided extensive outpatient and ancillary
services. Affiliates of HCA
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