Kindred bid more hostile?

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Kindred Healthcare increased its bid for Gentiva Health Services to about $534 million, and plans to take the offer directly to shareholders. 

“Although Gentiva's board has put in place a poison pill, we are moving forward with an all-cash tender offer to demonstrate our commitment ...,” Kindred Chief Executive Paul J. Diaz said. 

In May, Gentiva disclosed a poison-pill plan with a 15% trigger, in an effort to thwart the takeover. Gentiva's board wrote to Kindred it believes its plan to stand alone “will generate substantially more value to our shareholders.”


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