Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, April 13, 2011

RPT-Tenet seen still in play, even after lawsuit, (NYSE: THC), (NYSE: CYH)

Tenet Healthcare Corp (THC.N) shares retained a takeover premium on Tuesday, a day after it lobbed a legal grenade at unwanted suitor Community Health Systems (CYH.N), suggesting that investors still believe a deal between the two rivals could happen. Tenet on Monday filed an explosive lawsuit against Community Health, accusing the No. 2 U.S. hospital operator of inflating patient admissions and overbilling the Medicare program and other payers to boost revenue and profit. Community Health has denied the charges. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ FACTBOX-Tenet's accusations against Community

Source