Dallas based Tenet Healthcare Corp. continued to work at staving off a corporate takeover from Community Health Systems Inc., a competing hospital company Monday.

Shareholders of Tenet have already filed a lawsuit against the hospital system for rejecting the multibillion-dollar offer received from its competitor.

Wayne Smith, Chief Executive of Community Health’s contention that a new board of directors would be nominated at Tenet’s 2011 annual meeting, was met with a prepared statement from Tenet supporting its current directors for steering a five year turnaround effort. As well, Tenet said unlike Community Health, its hospital system was poised for growth.

However, Wall Street analysts say a deal is imminent, despite Tenet’s response to Community Health’s bid being so hostile and not until Tenet receives a much higher price offer.

Tenet’s Board of Directors unanimously rejected Community Health’s proposal of $6 per share in a $7.3 billion deal, earlier this month. However, Community Health’s proposal has seen Tenet’s shares exceed $6, jumping from $4.29 to $6.76.

Smith has criticized Tenet for its unwillingness to seriously consider his company’s offer.