TPG-Axon Capital Raises Stake in Triad Hospitals (TRI) to 7.4%

In an amended 13D filing on Triad Hospitals Inc. (NYSE: TRI), TPG-Axon Capital disclosed a 7.4% stake (6.48 million shares) in the company. This is up from the 6.2% stake the firm disclosed in a 11/17 13D. In the past 13D filing the firm disclosed a letter sent to the company outlining their concerns regarding the company's strategy and performance.

The hedge fund said the company should amend the composition of the board, focus on improving and optimizing existing assets, excess cash flow should be returned to shareholders through dividends and they should increase leverage significantly. They also said they believe the fair value of the stock is 25 to 50% higher than current levels.