Community Health CEO: Board weighing options with private equity sponsors
Wayne T. Smith, chairman and chief executive officer of Community Health Systems, stated, "The Board is currently exploring a variety of options with private equity sponsors, as well as other potential alternatives that would benefit all stockholders of the Company. In light of the recent accumulation of a significant block of the Company's common stock, the Board has adopted the Rights Agreement with a six-month duration in order to prevent the accumulation of a potentially controlling block of the Company's common stock until the Company's exploration of options and alternatives has concluded. The Rights Agreement is not intended to and will not prevent a transaction involving the Company's stock at a full and fair price. The Rights Agreement does not in any way weaken the Company's financial strength or interfere with its business plans or interfere with the Company's exploration of options or alternatives. The Rights Agreement was not adopted in response to any specific effort to acquire the Company or influence its management."