Though almost everyone involved and watching from the outside expected such an outcome, the proposed $33 billion leveraged buyout of HCA was approved by an overwhelming majority of shareholders at today’s meeting, with 72.9 percent of shares voting in favor of the transaction.
In receiving such a landslide majority, the company also cleared the only remaining hurdle left by the settlement of a shareholder lawsuit. As NashvillePost.com reported last week, the settlement stipulated that the merger agreement had to receive a majority of votes in favor of the transaction, otherwise the plaintiff shareholders could reject the settlement. Sadly for them however, this proved to be no problem for the hospital giant.
As stated in the merger agreement, HCA Inc. will now become a wholly-owned subsidiary of Hercules Holding II LLC, the company set up by the buyer group.
- FAHLEKAMP, BROOKE FEYE; KEPLEY, JOHN; KEPLEY, BROOKE FAYE; KEPLEY, BROOKE F
- GLENN, JEREMY; GRAYSON, THERESE S; GRAYSON, ALAN L
- CRABTREE DAVID P GREEN HILLS FAMILY INVESTMENTS LLC; DAVID P CRABTREE GREEN HILLS FAMILY INVESTMENTS LLC; HTC VI PARTNERS
- HAMMOND, GRANT; RADER, ERIC STACEY; RADER, KRISTIN