Seeking Alpha

Gentiva rejects Kindred's offer to buy a stake, gets new bid for whole company

  • Gentiva Health Services (NASDAQ:GTIV) +9.9% AH after rejecting Kindred Healthcare's (NYSE:KND) latest offer to buy a stake, saying it received a more valuable bid for the whole company from a party it identifies only as "a recognized owner, operator and investor in the sector."
  • In rejecting KND's $16/share offer for a 14.9% stake, GTIV says the new suitor offered $17.25/share for all of its shares.
  • GTIV says its board and advisers will review the new bid in due course, while saying KND's offer for the 14.9% position "would only be used as an irritant."
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