Business news in brief

In the Region

Community Health pulls its Tenet offer

St. Christopher's Hospital for Children. Community operates Chestnut Hill Hospital in Philadelphia and others in Coatesville, Phoenixville, Jennersville, Pottstown, and Salem. Community's latest offer had been set to expire Monday and it had said the latest proposal represented its final offer. Tenet said the offer still undervalued the company. On May 2, Community Health made the increased offer of $4.06 billion, or $7.25 per share in cash. - Bloomberg News

Home prices down in last '10 quarter

Home prices in the Philadelphia metropolitan area in the fourth quarter of 2010 were 11.3 percent below what they were in the final three months of 2007, according to Fiserve Case Shiller Indexes released Monday. The indexes showed single-family home price declines of 9.1 percent between the fourth quarters of 2005 and 2010 for the region. Prices fell 5.7 percent from the fourth quarter of 2009 to the same period in 2010. The indexes predict prices will increase 0.4 percent from the end of 2010 through the last quarter of 2011. Condo prices in the Philadelphia region fell 8.1 percent from the last quarter of 2007 to the final three months of 2010, Fiserve said. The indexes predict prices will fall an additional 1 percent this year, and rise 3.3 percent from the end of 2011 to the last quarter of 2012. - Alan J. Heavens

Ametek buys N.J. company

Ametek Inc., Berwyn, bought a Montvale, N.J., company for $148 million in cash. Coining Holding Co. supplies custom-shaped products used in the packaging and assembly of microelectronics. Coining, which was acquired from an investor group led by River Associates Investments L.L.C., Chattanooga, Tenn., has annual sales of about $65 million. Ametek makes electronic instruments and electromechanical devices. - Linda Loyd

50 Borgata workers being laid off