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The Firm is representing The Blackstone Group in connection with the announced merger of Vanguard Health Systems, Inc. (NYSE:VHS) and Tenet Healthcare Corporation (NYSE:THC).  Investment funds affiliated with Blackstone own approximately 37.75% of the issued and outstanding shares of common stock of Vanguard.  Under the terms of the merger agreement, Tenet will acquire all of the issued and outstanding shares of common stock of Vanguard for $21 in cash per share.  The acquisition is valued at $4.3 billion, which includes the assumption of $2.5 billion in debt.  The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals and is expected to close before the end of 2013.

Vanguard Health Systems owns and operates 28 acute care and specialty hospitals and complementary facilities and services in metropolitan Chicago, Illinois; metropolitan Phoenix, Arizona; metropolitan Detroit, Michigan; San Antonio, Texas; Harlingen and Brownsville, Texas; and Worcester and metropolitan Boston, Massachusetts. Tenet Healthcare Corporation, a leading health care services company, through its subsidiaries operates 49 hospitals, 126 free-standing outpatient centers and Conifer Health Solutions, a leader in business process solutions for health care providers that serves over 600 hospital and other clients nationwide.

The Simpson Thacher team for the transaction included: Wilson Neely, Shabarika Ajitkumar and Michael Monteleone (M&A).