Comment on Glenview Calls Community Health's $3.6B Deal for Health Management "Floor Value"

NEW YORK (TheStreet) -- Hedge fund Glenview Capital Management is not supporting Community Health Systems $3.6 billion proposed acquisition of Health Management Associates and instead characterizes the deal as a "floor value" for shareholders as it continues to press management change. Glenview said it will continue to press a slate of board directors to replace H.M.A's existing management instead of supporting the proposed merger announced early Tuesday morning. "Glenview believes that the Community Proposal establishes an important floor value for HMA shareholders to evaluate," the firm said in a Tuesday statement.