Technology Slice Blog

Community Health Systems Makes Bid For Tenet - Community Health Systems Inc (CYH.N) has offered to buy Tenet Healthcare Corp (THC.N) for $3.3 billion and create the country's largest hospital chain, but Tenet has rejected its larger rival's unsolicited bid. Shares in Tenet soared nearly 50 percent in extended trade. Including debt, the deal is valued at some $7.3 billion, Community Healthcare said in a statement. Analysts say the largest U.S. hospital operators are struggling to contain costs and mounting piles of bad debt, and have been hit by a stalled economy and stubbornly high unemployment levels. Some had speculated that delays in healthcare reform would trigger a rash of acquisition activity in the sector. Community Health Systems Makes Bid For Tenet The country's largest publicly traded hospital operator is offering $5.00 a share in cash and $1.00 per share in common stock for Tenet, whose hospitals are located primarily in the southern and western United S...