CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header
HAPPENING TODAY: Join KRLD from 10a-7p in Downtown Carrollton as our Your Hometown Tour continues!

Local

Tenet Healthcare Buying Vanguard Health

View Comments

CBS DFW (con't)

Affordable Care Act Updates: CBSDFW.com/ACA

Health News & Information: CBSDFW.com/Health

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

494849761 10 Tenet Healthcare Buying Vanguard HealthCelebrating National Underwear Day

465887719 Tenet Healthcare Buying Vanguard HealthFacebook Users – Beware The App!

 alt=JLo Shows Off Her Best Assets In New Cover

904255 10 Tenet Healthcare Buying Vanguard HealthRemembering Robin Williams

 alt=Musicians Then And Now

Fantasy_tile

VOTE: Best Coaches In American Sports

A sign for Tenet Healthcare Corporation sits outside the company's Dallas headquarters. (credit: AP Photo)

A sign for Tenet Healthcare Corporation sits outside the company’s Dallas headquarters. (credit: AP Photo)

DALLAS (AP) - Tenet Healthcare Corp. is buying Vanguard Health Systems Inc. for about $1.8 billion, helping to expand its service offerings and broaden its geographic reach.

The companies said Monday that the transaction also includes $2.5 billion in debt and value the entire deal at $4.3 billion.

Tenet will pay $21 per share, a 70 percent premium to Vanguard Health’s Friday closing price of $12.37.

Nashville, Tenn.-based Vanguard Health says its founder, Chairman and CEO Charlie Martin, will join Tenet’s board.

Tenet expects annual savings of $100 million to $200 million and for the acquisition to add to earnings in the first year.

Dallas-based Tenet has secured fully committed financing for the transaction from Bank of America Merrill Lynch.

Both boards unanimously approved the deal, which is expected to close before year’s end.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Also Check Out:

MOST VIEWED GALLERIES

View Comments
Follow

Get every new post delivered to your Inbox.

Join 42,314 other followers