Tenet Healthcare Corp (NYSE:THC) shares point higher ahead of Thursday’s open in New York after reports that it had hoisting the for sale sign after Wednesday’s market close.
The hospital operator has hired banking advisors as part of a review of its options, including a possible sale of the company – according to a Wall Street Journal report citing sources – although the process was also said to be in the early phases.
It comes as Tenet has been under pressure from activist shareholder Glenview Capital Management, which owns 17.8%, as it wants to consider options to enhance shareholder value and look at strategic alternatives.
Tenet also faces CEO succession pressure too, as Trevor Fetter is due to exit in March.
In out-of-hours dealing, Tenet shares were up US$1.70, around 10%, at US$17.94.