Community Health makes all-cash bid for Tenet
Business Law
Hospital operator Community Health Systems Inc. on Monday revised its $3 billion offer for rival Tenet Healthcare Corp. to an all-cash bid.
Community Health is now offering $6 per share in cash. In December, it had gone public with a bid of $5 per share in cash and $1 per share in stock. At the time, the offer was a premium of about 40 percent to the Dallas company's shares.
But Tenet's board rejected that offer, and adopted a "poison pill" measure to fend off the bid.
Tenet's shares have recently been trading above $6.
But the company said Monday it will review the revised offer and make a recommendation. It said shareholders should take no action for now.
Tenet shares fell 26 cents, or 3.9 percent, to $6.40 in afternoon trading while Community Health shares dropped $1.74, or 5.5 percent, to $30.16 after falling as much as 14.3 percent earlier in the session.
Community Health Systems runs 130 hospitals in 29 states, and focuses on fast-growing and non-urban markets. Tenet runs 50 hospitals spread across 11 states, and most of its facilities are in urban and suburban communities.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.