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CHS Raises ’Best and Final’ Cash Bid for Tenet
Health Leaders Media

Calling it a “best and final offer,” Community Health Systems, Inc. on Monday morning raised its all-cash bid to acquire all common stock of rival Tenet Healthcare Corp. to $7.25 per share – up from $6 per share – and gave the Tenet board one week to make a decision.

The deal will expire on May 9 if Tenet has not begun good-faith discussions, and Franklin, TN-based CHS said in a media release that it will withdraw its slate of nominees for the Tenet board, and end its six-month-long bitter and public hostile takeover attempt.