Tenet Healthcare Corp. (THC) Buyout Offer

By Tim - http://stockstobuy.org

Tenet Healthcare Corp. (THC) has received a buyout offer from Community Health Systems, Inc. (NYSE:CYH) for $6.00 per share. Tenet Healthcare Corp. (THC) is currently trading at $6.51 in pre market, up 52%.

Tenet Healthcare Corporation (NYSE:THC - News) today confirmed that it has received a proposal from Community Health Systems, Inc. (NYSE:CYH - News) to acquire all of the outstanding shares of Tenet for $6.00 per share in cash and stock.

Tenet noted that Community Health’s proposal is identical in all material respects to a Community Health proposal received by Tenet on November 12, 2010. The Tenet Board of Directors, after consultation with its financial and legal advisors, unanimously determined that the prior Community Health proposal was not in the best interests of Tenet or its shareholders. In making its determination, the Tenet Board considered that Community Health’s opportunistic proposal would transfer the growth potential inherent in Tenet to Community Health without adequately compensating Tenet shareholders. The Tenet Board believes that the interests of Tenet shareholders would be better served by benefiting from 100% of the upside inherent in Tenet rather than accepting Community Health’s inadequate proposal. In addition, the Board has serious concerns about Community Health’s ability to integrate and operate a business like Tenet.

The Tenet Board informed Community Health of its determination,

http://www.tenethealth.com/investors/pages/default.aspx

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