Camber Capital Management, a hedge fund with an
activist history, has purchased 5.7 million shares
of Tenet Healthcare Corp., or a 5.7 % stake in the money - losing hospital chain.The
emergence of Camber was disclosed Monday, just three days after Tenet's largest shareholder, Glenview Capital Management, resigned two Tenet board seats, citing irreconcilable differences with management and the board.Glenview Capital, which owns an 18 % stake in Tenet, gave notice Friday that it would no longer participate in a stand - still agreement that had prevented it from launching a proxy fight for control
of the company.Tenet
investors welcomed the Camber disclosure Monday, driving up Tenet's stock price to $ 2.18, or 15 %, to $ 16.63 as
of 12:30 p.m. ET.Tenet is the nation's third - largest
investor - owned