Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 28.05.2020  
C(2020 ) 3590 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M. 9845  – DAVIDSON KEMPNER CAPITAL MANAGEMENT / 
GOLDEN TREE ASSET MANAGEMENT / QUORUM HEALTH 
CORPORATION  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 30 April  2020 , the European Commission received notification of a proposed 
conc entration pursuant to Article 4 of the Merger  Regulation by which  the 
undertakings Davidson Kempner Capital Management LP (“Davidson Kempner”, 
United States) and  GoldenTree Asset Management LP (“GoldenTree”, United States), 
acquire within the meaning of Ar ticle 3(1)(b) of the Merger Regulation joint control 
over the whole of the undertaking Quorum Health Corporation (“Quorum Health 
Corporation”, United States)  by way of purchase of shares .3 
2. The business activities of the undertakings concerned are:  
 for Davi dson Kempner: alternative asset manager  based and mainly active in the 
United States, pursuing a variety of investment strategies, including a  number of 
investments in distressed debt, high yield bonds, leveraged loans, structured 
products, aircraft and sh ipping, and real property,  
 for GoldenTree: asset manager based in the United States and active globally, 
specialising in credit -based opportunities via high yield bonds, leveraged loans, 
distressed debt, structured products, emerging markets, private equity and credit -
themed equities,  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout th is decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 160, 11.5.2020 , p. 15. 

2  for Quorum Health Corporation: provision of hospital services in the United 
States.  
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger Regulation  and of 
paragraph 5 (b) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agre ement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .