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Tenet ends talks with Australian hospital operator

Mon, 06/07/2010 - 1:10pm
The Associated Press

Hospital operator Tenet Healthcare Corp. said Monday ended talks with Healthscope Ltd., an Australian hospital company it had considered buying.

Tenet said information about its talks with Healthscope was made public prematurely. As a result, it said it could not make a case to shareholders about the potential value of a deal for Healthscope. Tenet said it is withdrawing from the talks to avoid "a prolonged period of uncertainty and market speculation."

The talks were made public on Tuesday, and Tenet shares dropped 17.5 percent on the news. In Monday trading, they rose 19 cents, or 3.9 percent, to $5.11.

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