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Community Health makes all-cash bid for Tenet
Business Law Info |
2011/04/19 11:05
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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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Media ask court to unseal gay marriage trial tapes
Legal Career News |
2011/04/19 10:07
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Media organizations are joining lawyers for two-same-sex couples in urging a federal appeals court to release videotapes of a lower court trial on California's gay marriage ban.
The 13 organizations, which include The Associated Press, argued in a motion filed Monday with the 9th U.S. Court of Appeals that the videos are court records that the First Amendment requires to be open to the public.
Sponsors of voter-approved Proposition 8 asked the 9th Circuit last week to keep the tapes sealed and to order the trial's presiding judge to return his personal copies.
The move came after now-retired Judge Vaughn Walker, who declared Proposition 8 unconstitutional, used a brief segment of the video in several public talks. |
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Democrats criticize hiring of firm for House remap
U.S. Legal News |
2011/04/18 16:21
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Democratic lawmakers are raising complaints about Republican House Speaker Jim Tucker's decision to hire a law firm with national GOP ties to submit the state House remap to federal officials.
The head of the House redistricting committee, Democratic Rep. Rick Gallot, said Friday the choice creates the appearance of impropriety because the firm had given the Republican delegation advice about redistricting.
The Senate is using its staff to do its redistricting submission.
Tucker has hired Washington, D.C.-based Holtzman Vogel PLLC to guide the redesign of the 105 House districts to the U.S. Justice Department for review under the Voting Rights Act.
Tucker says he chose a firm with the expertise needed for the complex legal work.
The managing partner of Holtzman Vogel is chief counsel to the Republican National Committee. |
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Court denies appeal over inmate's long sentence
Court Feed News |
2011/04/18 15:23
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The Supreme Court has rejected an appeal from a convicted insurance swindler who is protesting his 835-year prison term.
The court did not comment Monday in turning away a plea from Sholam Weiss for his release from prison and return to Austria, where he was arrested after he fled the United States during his criminal trial in Orlando, Fla. Weiss is in prison for his role in the collapse of a life insurance company in the 1990s that cost thousands of people their life savings.
He still may be able to appeal his conviction and sentence, even though an appeals court had earlier ruled that he forfeited his appeal rights when he became a fugitive.
A judge cut 10 years from Weiss' sentence when Austria returned him to the U.S. |
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US court turns away new appeal from Uighurs
Court Feed News |
2011/04/18 13:22
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The five remaining Chinese Muslims who are being held at Guantanamo Bay lost their latest bid Monday to get the Supreme Court to hear their case.
The justices turned away a plea from the five detainees, who have been held at the U.S. naval base in Cuba for nearly nine years.
The detainees had previously declined an offer to be resettled in the tiny Pacific nation of Palau, where six other Chinese Muslims, or Uighurs, have gone to live. It is not clear why the five refused to go to Palau, or to a second, unidentified country that the Obama administration has said was willing to take them.
Justice Stephen Breyer, writing for three of his colleagues, said he agreed with the court's decision not to hear the case because of the two countries' offers and "the government's uncontested commitment to continue to work to resettle" the Uighurs. Justices Ruth Bader Ginsburg, Anthony Kennedy and Sonia Sotomayor joined Breyer's opinion.
Justice Elena Kagan, who worked on the case while serving in the Justice Department, did not take part in the court's action Monday.
The detainees wanted the court to consider the question of whether a judge can order detainees released into the United States. |
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Navy contractor to plead guilty in kickback scheme
Criminal Law Updates |
2011/04/18 13:22
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A Navy contractor has agreed to plead guilty in federal court in Rhode Island to his part in a multimillion-dollar kickback and bribery scheme.
Anjan Dutta-Gupta entered a plea agreement Monday.
The U.S. attorney's office in Rhode Island says the 58-year-old has agreed to admit to paying $8 million in bribes to civilian Navy employee Ralph Mariano and his family members in exchange for increased funding to $120 million worth in Navy contracts held by Dutta-Gupta's company. Prosecutors also say Dutta-Gupta funneled $1.2 million through subcontractors to another company he owned.
Dutta-Gupta's attorney didn't immediately return calls for comment.
The company, Advanced Solutions for Tomorrow, was based in Georgia, and had offices in Middletown, R.I.
Mariano has also been charged and has not pleaded guilty. |
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