Deals
Bank of America Sells Back 15.6% HCA Stake for $1.5 Billion
This article is for subscribers only.
Bank of America Corp., the lender that’s divesting assets to raise capital, agreed to sell 80.8 million shares of HCA Holdings Inc. back to the health-care company for $1.5 billion. HCA’s stock jumped 12 percent.
The agreement calls for a price of $18.61 a share, yesterday’s closing price, according to a statement today from HCA, the largest U.S. hospital operator. The shares equal a 15.6 percent stake in HCA, the Nashville, Tennessee-based firm said.