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Glenview rejects HMA offer, demands board overhaul

Reuters, August 7, 2013
Aug 7 (Reuters) - Glenview Capital Partners rejected hospital operator Health Management Associates Inc's offer to add a few of the hedge fund's nominees to its board, reiterating its demand for a complete overhaul of the board. Glenview rejected the idea of a "hybrid board" including nominees from HMA, saying a shareholder vote was already underway to decide the outcome. HMA, which is being bought by larger peer Community Health Systems Inc for $3.9 billion, has been under pressure from Glenview, which has said it wants to replace HMA's directors and set the company on a different course.