HMA may be a takeover target

Health Management Associates, the hospital company based in Naples, has been getting a lot of scrutiny lately.

In addition to an unflattering report on the television show 60 Minutes and various government subpoenas for information, now comes New York City hedge fund Glenview Capital Management.

On May 6, Glenview disclosed that it had acquired 14.6% of the company's shares (HMA's shares trade on the New York Stock Exchange under the symbol HMA). In a filing with the Securities and Exchange Commission, HMA says Glenview has disclosed that it may seek to “undertake a change of control or other extraordinary transaction” and the company responded by adopting a so-called poison pill “shareholder rights plan” that would prevent a takeover without the board's approval.