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HCA wants to ax supermajority voting rule
Modern Healthcare

HCA Healthcare says it wants to toss its rule requiring affirmative votes from the owners of 75% of its outstanding shares in order to make certain changes to the company.

Ironically, they will need that very supermajority vote to get rid of the requirement, which some say is already a very high hurdle for approval.

“There is a question as to whether it will even pass, even though it’s generally viewed as shareholder friendly,” said Joshua Apfelroth, a partner in Cadwalader, Wickersham & Taft’s corporate group.