Community Health Seeks to Oust All 10 Tenet Directors

Community Health Systems Inc., pressing a $3.3-billion hostile takeover bid for rival hospital operator Tenet Healthcare Corp., said it will nominate a full slate of 10 directors to Tenet’s board.

Community Health will put its nominees up for election at Tenet’s shareholders’ meeting on Nov. 3, the Franklin, Tennessee-based company said today in a statement. Tenet on Jan. 7 amended its corporate bylaws to adopt a takeover defense prohibiting any shareholder from acquiring more than 4.9 percent of the company and delaying its annual meeting, usually held in May, to the November date.