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Hospital operator HCA, which was taken public by its PE owners in March, rises 10.4% after...

Hospital operator HCA, which was taken public by its PE owners in March, rises 10.4% after announcing it will repurchase 80.7M shares from Bank of America (BAC). Three BofA-appointed board members will resign following the transaction, which will roughly give the bank a 3x return on its investment, originally made by Merrill Lynch's PE arm.
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  • MexCom
    , contributor
    Comments (3058) | Send Message
     
    There is a lot of criticism that BAC is overvaluing the assets carried on their balance sheet. This indicated that there are situations where the asset values are understated. They now have to pay taxes on the capital gains form this transaction. $BAC
    15 Sep 2011, 03:32 PM Reply Like
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