Monday, February 05, 2007

TPG-Axon Profits from Triad Hospitals (TRI) Activism

Activist target Triad Hospitals, Inc. (NYSE: TRI) announced this morning they entered into a definitive merger agreement with affiliates of CCMP Capital Advisors and GS Capital Partners in a transaction valued at approximately $6.4 billion, including approximately $1.7 billion of debt ($50.25 per share in cash).

TPG-Axon Capital has been the firm pushing for changes at the company. At last count TPG-Axon owned 8.87% (7.81 million shares) of the stock which, from calculations, was bought for an average price of around $42 per share.

TPG-Axon has yet to respond the today's acquisition news.

Link to past Triad Hospitals/TPG-Axon posts

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