NEW YORK, July 30, 2013 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces an investigation pertaining to Health Management Associates, Inc.'s ("HMA" or the "Company") (NYSE:HMA) entry into an agreement to be acquired by Community Health Systems, Inc. ("CHS") (NYSE:CYH) in a transaction valued at approximately $7.6 billion, including the assumption of debt.
Under the terms of the agreement, public shareholders of HMA will receive $10.50 in cash and 0.06942 shares of CHS for each share of HMA they own. Based upon CHS's closing stock price of $47.23 on July 29, 2013, HMA shareholders would have received consideration valued at approximately $13.78 per share (a discount of almost 8%). In addition to the cash and stock consideration, HMA shareholders would also receive one Contingent Value Right for each HMA share they own, which could yield additional cash consideration of up to $1.00 per share.
The investigation concerns whether this is the best possible value for HMA's shareholders. According to Yahoo! Finance, at least one analyst has set a price target for HMA stock at $20.00 per share.
If you own common stock of HMA and purchased your shares before July 30, 2013 and wish to discuss your rights or interests regarding this matter, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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CONTACT: Thomas J. McKenna, Esq. Gregory M. Egleston, Esq. Gainey McKenna & Egleston (212) 983-1300 email@example.comSource:Gainey McKenna& Egleston