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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHCA shareholders allege Bain Capital bid-rigging
Last edited Mon Sep 17, 2012, 11:30 AM - Edit history (1)
An alleged bid-rigging conspiracy among Bain Capital and other private equity firms to divvy up targeted companies including Nashville-based HCA may have taken as much as $1.6 billion out of HCA shareholders pockets by blocking rival bidders and keeping a lid on the final price when the hospital chain was sold in 2006.
The notion that big private equity firms such as Bain, Goldman Sachs and the Blackstone Group engaged in a conspiracy to lower sales prices in leveraged buyouts from 2003 to 2007 remains a key claim in a federal lawsuit in Boston brought against those firms by former HCA shareholders, and by stockholders of other acquired companies such as Neiman Marcus and Toys R Us snapped up in Wall Street mega-deals before the recession.
HCA then a public company went private in 2006 in a $32.1 billion sale to private equity funds Kohlberg Kravis Roberts (KKR), Bain Capital and Merrill Lynch, as well as to family members of HCAs co-founder Dr. Tommy Frist Jr. and other executives on HCAs management team.
http://www.tennessean.com/article/20120917/BUSINESS01/309170014/HCA-shareholders-allege-Bain-Capital-bid-rigging?odyssey=tab|topnews|text|FRONTPAGE
nc4bo
(17,651 posts)Romney was warned that all that spit and duct tape wouldn't be a permanent fix.
spanone
(135,832 posts)Wellstone ruled
(34,661 posts)Leader,Bain,see a connection here. Pretty damn obvious isn't it. This stuff has been in the press for years. Everybody has such a short attention span,it seems,and has selective memories. Bill Frist=HCA Medicare Fraud=Billions. Get the story yet? It's not just the tax papers,it's Willard's interest in HCA.
Amazing,how our deadass media isn't cover these issues. I know,I know,the media wants a horse race. Will the media report were all of Willard's road show(dog and Pony)attendees will be bused in from when he shows up in Vegas this week,doubt it. Got to personally kiss the Sheldon ring and pick-up a bag of money.