Community Health Systems $6.8 billion acquisition of Triad Hospitals has cleared two regulatory hurdles, Plano, Texas-based Triad said. Earlier this week the 30-day waiting period under the Hart-Scott-Rodino act passed without the Federal Trade Commission challenging the deal on antitrust grounds, Triad said. Also, the Securities and Exchange Commission advised Triad that it will not comment on the proxy filing detailing the deal that Triad issued on March 30.
Triad also said that it has scheduled a special shareholders meeting on June 12 to seek shareholder approval for the deal with Community. Triad shareholders as of May 3 will be eligible to vote by proxy or in person during the meeting. Community does not need approval from its shareholders. Triad said it expects the deal to close early in the third quarter.
Triad said it will not issue a first-quarter earnings release, but will provide its financial statements in its 10-Q filing with the SEC no later than May 10. Community, Franklin, Tenn., is scheduled to release its earnings report late this afternoon. -- by Vince Galloro