HCA will purchase the stock at a price of $18.61 per share, totaling about $1.5 billion, and the transaction is expected to be finalized on Sept. 21. The three Bank of America designees on HCA’s board of directors will also step down, the release said.
Bank of America recently announced it would eliminate 30,000 jobs over the next few years, and the bank is looking to sell assets to raise capital, according to a Bloomberg report.
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