QHC on hairy edge
Quorum Health Fell 56% on Shift in KKR Credit Advisors Talks
6:23 pm ET March 11, 2020 (Dow Jones)
By Josh Beckerman
Quorum Health Corp. shares fell 56% to 48 cents Wednesday after KKR Credit Advisors LLC said late Tuesday that transaction discussions shifted from a buyout plan to a reorganization with "no assurances" that stockholders would receive any consideration.
The proposal for the hospital operator, disclosed in December, called for a buyout of public shares held by minority holders for $1 each.
Quorum said late Wednesday that it "continues to engage in constructive discussions with KKR and other debt holders regarding a potential recapitalization or financial reorganization transaction." Shares rose 2 cents to 50 cents after hours.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
March 11, 2020 18:23 ET (22:23 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
War is a matter not so much of arms as of money. ~ Thucydides (460 - 400 B.C.) credit Colin Twiggs
