Triad shareholders to decide Community Health merger on June 12

By Lisa Kerner

Charlotte, N.C., May 8 - Triad Hospitals, Inc. shareholders of record as of May 3 will vote on the $6.8 billion merger agreement with Community Health Systems, Inc. at a special meeting on June 12.

Under the March 19 agreement, Triad shareholders will receive $54 per share in cash. The company will merge with and into a wholly owned subsidiary of Community Health, with Triad remaining as the surviving corporation, according to a schedule 14A filing with the Securities and Exchange Commission.

Triad terminated its previous merger agreement with a group led by affiliates of CCMP Capital Advisors and GS Capital Partners. The $6.4 billion proposed merger included a $20 million breakup fee, a company news release stated.

Franklin, Tenn.-based Community Health Systems operates general acute care hospitals in non-urban communities.

Triad, based in Plano, Texas, owns and manages hospitals and ambulatory surgery centers.

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