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Dallas-based Tenet drops bid for Australian hospital firm

Dallas Morning News, June 8, 2010
Dallas-based Tenet Healthcare Corp. said that it had stopped an effort to purchase an Australian hospital operator because it wasn't able to persuade shareholders of the deal's upside. "Due to the sequence of events associated with the acquisition process . . . Tenet has been unable to complete the work necessary to thoroughly convey to shareholders the potential value, including the inherent risks and opportunities, of this transaction," Tenet said in a prepared statement.