NEW YORK, Aug. 1, 2013 /PRNewswire/ -- Morgan & Morgan announces that it is investigating potential legal claims against the board of directors of Health Management Associates Inc. ("HMA" or the "Company") (NYSE: HMA) regarding possible breaches of fiduciary duties and other violations of law related to the Company's efforts to sell the Company to Community Health Systems, Inc. in a transaction valued at $7.6 billion, including the assumption of approximately $3.7 billion of debt.
Under the terms of the proposal, shareholders would receive 10.50 per share in cash plus 0.06942 shares of Community Health Systems, Inc. for each share of HMA common stock.
Morgan & Morgan's investigation concerns whether the Board of Directors of HMA breached its fiduciary duties to act in the best interests of HMA shareholders and to take all necessary steps to ensure that HMA shareholders receive the maximum value readily available for their shares of HMA common stock.
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SOURCE Morgan & Morgan