Kirkland Advises CHS In $3.3B Bid For Tenet

Law360, New York (December 10, 2010, 2:35 PM EST) -- Community Health Systems Inc. has said it would shell out $3.3 billion to snap up Tenet Healthcare Corp., which has snubbed the unsolicited bid, calling it inadequate.

Franklin, Tenn.-based CHS said Thursday it would pay $6 per share for Tenet, including $5 per share in cash and $1 per share in CHS common stock, representing a premium of 40 percent over Tenet's closing share price.

In addition to receiving a substantial cash premium, Tenet stockholders would share in the upside of the combined company through the...
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