Deals
Community Health Ends Bid to Buy Tenet After Third Rebuff
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Community Health Systems Inc. dropped its $7.3 billion bid to buy Tenet Healthcare Corp. and create the largest U.S. hospital company after Tenet repeatedly rejected the offer.
Community Health also is withdrawing its slate of nominees for Tenet’s board of directors, the Franklin, Tennessee-based company said yesterday in a statement. Community Health, the second-largest U.S. hospital operator, said on Jan. 14 it would nominate 10 directors to replace Tenet’s current board.