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.”
From the July 01, 2014 Issue of McKnight's Long-Term Care News
