NEW YORK, July 28, 2006 (PRIMEZONE) -- Notice is hereby given that Bull & Lifshitz, LLP has filed a securities class action in Chancery Court of Davidson County, Tennessee, on behalf of owners of the common stock of HCA Inc. ("HCA" or the "Company") (NYSE:HCA).
The Complaint alleges that HCA and Bain Capital, Kohlberg Kravis Roberts & Co., and Merrill Lynch Global Private Equity executed a definitive merger agreement under which affiliates of the private equity sponsors and HCA Founder Dr. Thomas F. Frist, Jr. will acquire HCA in a transaction valued at approximately $33 billion, including the assumption or repayment of approximately $11.7 billion of debt.
The Complaint further alleges that the price of $51.00 per share offered to the class members is unconscionable, unfair and grossly inadequate consideration and has been the object of manipulation because, among other things: (a) the intrinsic value of the stock of HCA is materially in excess of $51.00 per share, giving due consideration to the possibilities of growth and profitability of HCA in light of its business, earnings and earnings power, present and future; (b) the $51.00 per share price is inadequate and offers an inadequate premium to the public stockholders of HCA; and (c) the $51.00 per share price is not the result of arm's length negotiations but was fixed arbitrarily by HCA to "cap" the market price of HCA stock, as part of a plan for defendants to obtain complete ownership of HCA assets and business at the lowest possible price.
For an information package (http://www.nyclasslaw.com/infopackage.html) or if you wish to discuss this action, or have any questions concerning this notice of your rights or interests with respect to this matter, please contact Joshua M. Lifshitz, Esq., Bull & Lifshitz, LLP, via telephone at (212) 213-6222, via fax at (212) 213-9405 or by email at counsel@nyclasslaw.com
More information on this and other class actions can be found on the Class Action Newsline at http://www.primezone.com/ca