No deal
Tenet Healthcare Corp. this morning rejected a bid from Community Health Systems. Inc. The unsolicited bid of $7.3 billion offered a 40 percent premium over Tenet’s closing share price Tuesday.
Calling the bid “opportunistic,” as reported by the Philadelphia Business Journal, Tenet rejected the bid, which the corporation said does not reflect its growth opportunities.
Tenet owns 50 hospitals, including St. Christopher’s Hospital for Children and Hahnemann University Hospital. Community Health owns 126 hospitals in 29 states, including Chestnut Hill Hospital and Phoenixville Hospital.
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