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Dallas-based Tenet bids for hospital company in Australia

Dallas Morning News, June 2, 2010

Shares of Tenet Healthcare Corp. fell 17% after the company said it is in discussions to buy the second-largest private hospital company in Australia. The Dallas-based hospital system did not say how much it is offering, but Healthscope Ltd., the Australian hospital company, said last month it received offers for $5.80 a share, which investors calculate to be about $1.8 billion. Tenet closed June 1 at $4.72, down $1, the Dallas Morning News reports.