Health Management takeover talk heats up

Update:Glenview Capital says it is not engaged in a hostile takeover. The company issued the following statement in response to this post:

“Glenview Capital Management has filed a consent solicitation in which they have nominated a new independent, slate of directors for the board at HMA. But they have in no way initiated steps for a hostile takeover”

Shares of Health Management Associates, parent company of Knoxville-based Tennova Healthcare, hit a 52-week high today on continued takeover talk.

By late afternoon, shares were up more than 9 percent to $16.89 with 11.3 million shares traded.

The Naples, Fla.-based company is the subject of a hostile takeover by Glenview Capital Management, which has been increasing its stake in the company.

Glenview could soon have some competition. Reuters reported today that Franklin, Tenn.-based Community Health Systems Inc. and other companies also have target HMA.

HMA officials aren’t commenting on the takeover buzz.

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