Wayne Smith, chairman of Franklin, Tenn.-based Community Health Systems', has said the company remains "absolutely committed" to acquiring Tenet, according to a Dallas Business Journal report.
"We're hopeful that rational people will prevail here in terms of the thought process," said Mr. Smith. "We think it is fully priced at $6 a share. If you look at what we've [been] paying for hospitals over the last couple of years, it's been a lot less than this," according to the report.
CHS offered Tenet at $3.3 billion equity bid last week, but Tenet rebuked the unsolicited offer.
Read the Dallas Business Journal report on CHS's bid for Tenet.
Read more coverage on CHS's bid for Tenet:
- Community Health's Bid to Buy Tenet May Not be Over
- Tenet Rejects $3.3B Bid From Community Health Systems
- CHS Offers $3.3B Bid for Tenet
"We're hopeful that rational people will prevail here in terms of the thought process," said Mr. Smith. "We think it is fully priced at $6 a share. If you look at what we've [been] paying for hospitals over the last couple of years, it's been a lot less than this," according to the report.
CHS offered Tenet at $3.3 billion equity bid last week, but Tenet rebuked the unsolicited offer.
Read the Dallas Business Journal report on CHS's bid for Tenet.
Read more coverage on CHS's bid for Tenet:
- Community Health's Bid to Buy Tenet May Not be Over
- Tenet Rejects $3.3B Bid From Community Health Systems
- CHS Offers $3.3B Bid for Tenet