Community Health Systems has converted its $3.3 billion offer for Tenet Healthcare into an all-cash bid, Reuters reports. Tenet Healthcare had rejected Community Health’s initial offer as too low. Tennessee-based hospital operator, Community Health Systems, will convert its bid to $6 in cash from $5 in cash and $1 in stock, adds New York Times. Community has appointed Credit Suisse and Goldman Sachs as its financial advisers on the deal.
Click here for the story from Reuters.
Click here for additional coverage from New York Times.