I just wanted to share this article from business week. It is rare these days to see someone standing up for share holders. I am very glad that Tenet Health board of directors blocked Community health System hostile bid twice trying to wipe out the share holders. I personally this rejection for unsolicited bid will benefit Tenet Health and stock will go up when the economy start recovering. I will definitely want to invest in companies with strong management and potential for future growth. Here is the link to the story. I find Bloomberg Business to be the best in providing the best business news ever.Tenet Healthcare Board of Directors Confirms Receipt of Unsolicited Proposal from Community Health Systems
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Tenet Board Previously Rejected Identical Proposal

DALLAS-(BUSINESS WIRE)-Dec. 9, 2010- Tenet Healthcare Corporation (NYSE: THC) today confirmed that it has received a proposal from Community Health Systems, Inc. (NYSE: CYH) to acquire all of the outstanding shares of Tenet for $6.00 per share in cash and stock.

Tenet noted that Community Health’s proposal is identical in all material respects to a Community Health proposal received by Tenet on November 12, 2010. The Tenet Board of Directors, after consultation with its financial and legal advisors, unanimously determined that the prior Community Health proposal was not in the best interests of Tenet or its shareholders. In making its determination, the Tenet Board considered that Community Health’s opportunistic proposal would transfer the growth potential inherent in Tenet to Community Health without adequately compensating Tenet shareholders. The Tenet Board believes that the interests of Tenet shareholders would be better served by benefiting from 100% of the upside inherent in Tenet rather than accepting Community Health’s inadequate proposal. In addition, the Board has serious concerns about Community Health’s ability to integrate and operate a business like Tenet.

The Tenet Board informed Community Health of its determination, sending the following letter on December 8, 2010 to Wayne T. Smith, Community Health’s Chairman, President and CEO:

December 8, 2010

Wayne T. Smith
Chairman of the Board, President and CEO
Community Health Systems, Inc.
4000 Meridian Boulevard
Franklin, TN 37067

Dear Wayne,

We wanted to follow-up on your request via your advisors to understand more fully why the Board of Directors of Tenet Healthcare Corporation believes the Community Health Systems, Inc. proposal grossly undervalues Tenet.

As stated in our letter to you of December 6, 2010, the Tenet Board of Directors thoroughly reviewed and considered Community Health’s unsolicited $6 per share cash and stock proposal with its financial and legal advisors and unanimously determined that Community Health’s proposal would transfer the growth potential inherent in Tenet to Community Health without adequately compensating Tenet shareholders. Our Board believes that the interests of Tenet shareholders would be better served by benefiting from 100% of the upside inherent in Tenet rather than accepting Community Health’s inadequate proposal. In addition, our Board has serious concerns about Community Health’s ability to integrate and operate a business like Tenet. For those reasons and more, the Tenet Board is not interested in pursuing your company’s proposal.

In making its determination, the Tenet Board of Directors considered, among others things, that:

I. The Community Health proposal is opportunistic, grossly undervalues Tenet and fails to reflect Tenet’s prospects for continued growth and shareholder value creation.

Tenet is poised to deliver strong earnings growth as the economy recovers and market fundamentals improve. While we have faced a number of challenges in recent years, we have continued to invest in our core business, positioning Tenet for solid growth coming out of the downturn.

As

ACQUIRE MEDIA

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