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Fort Worth's new thoroughfare plan aims for more variety in street design

Fort Worth is launching a review of its master thoroughfare plan aimed at accommodating continued suburban growth and central city redevelopment with a greater variety of streets and more efficient traffic flow.

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Holt Hickman, businessman who helped preserve Stockyards, dies at 82

Longtime Fort Worth businessman, philanthropist and preservationist Holt Hickman died Nov. 15, 2014, at the age of 82.

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UPDATE: Could American Airlines move its headquarters?

A key linchpin in the Fort Worth economy, American Airlines Group Inc., is considering sites for a new headquarters, possibly outside the city, the airline’s CEO said this morning.

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Crestwood area hoping to block planned office building

Residents of West Fort Worth’s Crestwood Association are trying to block the rezoning of a small apartment complex at White Settlement Road and North Bailey Avenue to make way for a planned office building, saying it would represent the start of commercial encroachment into their neighborhood.

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Tiger Woods takes a swing at Fort Worth's Dan Jenkins - in print anyway

Rarely does Golf Digest make the news. Leave it to Dan Jenkins to change that.

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Tenet to acquire Vanguard Health Systems in $4.3B deal
 
A. Lee Graham
Reporter
 
Tenet Healthcare Corp. of Dallas plans to acquire Vanguard Health Systems Inc. for $21 per share in a transaction valued at $4.3 billion, including the assumption of $2.5 billion in Vanguard debt.
Both boards of directors have unanimously approved the transaction, with Tenet securing fully committed financing from Bank of America Merrill Lynch.
“This unique strategic transaction will bring together organizations that share a common commitment to providing high quality care and create significant new growth prospects for Tenet,” said Tenet president and CEO Trevor Fetter, commenting in a news release.
“This acquisition will take Tenet into new geographic markets, expand the breadth of our service offerings, diversify our earnings sources and increase the benefits we expect to realize under healthcare reform,” Fetter said.
The acquisition, expected to close before the end of 2013, is subject to customary closing conditions and regulatory approvals. Upon closing, Charlie Martin, Vanguard founder, chairman and CEO, will join Tenet’s board of directors. Keith Pitts, Vanguard’s vice chairman, will join the Tenet senior management team as vice chairman.
Serving as Tenet’s legal counsel in the transaction was Gibson Dunn & Crutcher, with Lazard acting as lead financial and strategic adviser. Bank of America Merrill Lynch, Barclays and Teneo Capital also served as advisers for Tenet. Skadden, Arps, Slate, Meagher & Flom served as Vanguard’s legal counsel and JP Morgan acted as exclusive financial and strategic adviser.
The deal expands Tenet’s total ownership to 79 hospitals and 157 outpatient facilities and diversifies its geographic footprint to 16 states, including two new Texas markets. Specific locations were not immediately disclosed.
Tenet Healthcare Corp., through its subsidiaries, operates 49 hospitals, 126 free-standing outpatient centers and Conifer Health Solutions, which provides business process solutions for health care providers serving more than 600 hospitals and other clients nationwide. More information is available at www.tenethealth.com.
Vanguard Health Systems, based in Nashville, Tenn., owns and operates 28 acute care and specialty hospitals and complementary facilities and services in San Antonio; Harlingen, Texas; Brownsville, Texas; Chicago; Phoenix; Detroit; and Boston. More information is available at www.vanguardhealth.com.
 
lgraham@bizpress.net
 

 

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