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Tenet Healthcare Again Rejects $3.3B CHS Bid

Law360 (April 22, 2011, 4:39 PM EDT) -- Tenet Healthcare Corp. on Friday rebuffed Community Health Systems Inc.'s renewed $3.3 billion bid to acquire the hospital operator, saying it doubted CHS would ultimately be able to close the deal and wasn't offering anything new this time around.

CHS' offer, which Tenet said was no different from its first offer, "grossly undervalues" Tenet, and CHS' business practices and "the manner in which [it] deals with acquired hospitals" would make the unsolicited deal difficult to complete, according to a letter Tenet CEO Trevor Fetter and Chairman...
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