It looks as though HCA could be the object of a bidding war. Blackstone Group is supposedly interested in topping a private equity group's $21.3 billion bid for the hospital giant. A source close to the matter says discussions about the possible bid are still in early stages. On Monday HCA agreed to be acquired by founder Thomas Frist Jr. and a group of investors, disproving earlier reports that buyout talks had unraveled. HCA is allowed 50 days to entertain other competing offers before the deal closes. If Blackstone tops the equity group's bid, it will have to pay a breakup fee of $300 million.
- read this Times of London article