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Tenet says CHS offer undervalues company
Modern Healthcare

Tenet Healthcare Corp., Dallas, has responded to the release by Community Health Systems of its unsolicited offer to buy Tenet by releasing its initial response to Community’s offer, valued at $7.3 billion in cash, stock and assumed debt. Tenet’s letter, signed by Trevor Fetter, its president and CEO, and Edward Kangas, its nonexecutive chairman, dismisses Community’s offer as grossly undervaluing the company, based on its improving performance and the tax-sheltering value of its previous heavy losses.