Tenet Healthcare Spurns CHS’ $4B Final Merger Offer

Law360, New York (May 9, 2011, 8:41 PM EDT) -- Dallas-based Tenet Healthcare Corp. rejected Tennessee hospital operator Community Health Systems Inc.'s final $4 billion takeover bid Monday, saying it grossly undervalued the company and was not in the best interests of Tenet or its shareholders.

On May 2, CHS said it was raising its bid for Tenet for the last time, from $6 per share to $7.25 per share, which CHS said would give Tenet shareholders a 69 percent premium over the company's share price in December, when CHS publicly announced it had offered $5...
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