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HEALTHTRUST, INC. DECLARES DIVIDEND DISTRIBUTION OF PREFERRED STOCK PURCHASE RIGHTS

 NASHVILLE, Tenn., July 8 /PRNewswire/ -- The Board of Directors of Healthtrust, Inc. -- The Hospital Company (NYSE: HTI) today declared a dividend distribution of one Preferred Stock Purchase Right for each outstanding share of Healthtrust Common Stock. The distribution will be made to stockholders of record on July 22, 1993. The Rights distribution is not presently taxable to stockholders.
 Each Right entitles stockholders to purchase one one-hundredth of a share of a new series of Healthtrust Preferred Stock at an exercise price of $75.00. Right certificates will be distributed only if a person or group acquires 15 percent or more of any class of Healthtrust voting stock or commences a tender or exchange offer the consummation of which would result in ownership by a person or group of 15 percent or more of any class of Healthtrust voting stock. Healthtrust will be entitled to redeem the Rights at $.01 per Right (subject to adjustment) up to and including the tenth day (or a later date, if the Board so determines) after a 15 percent position has been acquired. In addition, at any time after a person or group acquires a 15 percent position in the company and until such ownership position reaches 50 percent, the company may exchange the Rights at a rate of one share of Healthtrust Common Stock per Right. The Rights will expire on July 8, 2003 unless earlier redeemed or exchanged by the company.
 If Healthtrust is acquired in a merger or other business combination transaction, each Right will entitle its holder to purchase, for the exercise price, a number of the acquiring or surviving company's common shares having a market value at the time of such transaction of twice the exercise price. In addition, following the acquisition by a person or group of 15 percent or more of any class of the company's voting stock, each holder of a Right will become entitled to purchase, for the exercise price, a number of shares of Healthtrust Common Stock having a market value at the time of the transaction of twice the exercise price.
 The board indicated that the Rights were not adopted in response to an attempt to acquire control of Healthtrust. The Rights are regarded by the board as a prudent response to today's takeover environment and are designed to ensure that Healthtrust's stockholders receive fair treatment in the event of an unsolicited attempt to acquire the company.
 Details of the Rights distribution will be mailed to stockholders.
 Healthtrust is one of the largest health care providers in the United States with assets of $2.4 billion. The company provides a variety of acute and other health care services in 21 southern and western states.
 -0- 7/8/93
 /CONTACT: Merilyn H. Herbert, Healthtrust, Inc., 615-298-6261, or Paula Lovell, Lovell Communications, 615-297-7766, for Healthtrust, Inc./
 (HTI)


CO: Healthtrust, Inc. -- The Hospital Company ST: Tennessee IN: HEA SU: DIV

SB -- CH011 -- 9721 07/08/93 18:13 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
Words:492
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