New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 15, 2014
12:42 EDTHLS, GTIV, AMED, KNDGentiva Health jumps after Kindred makes takeover offer public
Shares of home health services provider Gentiva Health (GTIV) are soaring after Kindred Healthcare (KND) made public its offer to buy Gentiva for $14 per share. Kindred operates hospitals and rehabilitation centers and also has a hospice and home healthcare business. WHAT'S NEW: Kindred earlier today announced that it has offered to buy Gentiva for $7 per share in cash and $7 per share of Kindred's stock. The proposed price for Gentiva implies a total equity value of approximately $533M, Kindred stated. With the assumption of Gentiva’s debt, the transaction would be valued at approximately $1.6B, it added. Gentiva is not willing to talk about the proposed transaction at this time, Kindred noted. ANALYST REACTION: In a note to investors, research firm CRT Capital wrote that Kindred's offer is "a bit high but not unreasonable." Gentiva should accept Kindred's takeover offer, as historically companies have difficulty getting their stock price up to the takeout price after rejecting bids, CRT stated. The firm added that it believes the only other potential bidder, HealthSouth (HLS), is unlikely to make an offer. Kindred's bid is likely to become hostile, added CRT, which kept a Buy rating on Gentiva. Discussing another company in the sector, CRT recommended that investors short the shares of Amedisys (AMED) if the stock rises because the market views it as the next potential takeover target. The firm doesn't expect a bidder for Amedisys to emerge and it kept a Sell rating on that stock. Research firm Raymond James responded to Kindred's offer by upgrading its rating on Gentiva to Market Perform from Underperform. PRICE ACTION: In early afternoon trading, Gentiva soared 61% to $13.75, Kindred rose 6.5% to $23.35, and Amedisys rose 7.1% to $15.
News For GTIV;KND;AMED;HLS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 26, 2015
18:43 EDTKNDOn The Fly: After Hours Movers
Subscribe for More Information
16:49 EDTKNDKindred Healthcare reports Q4 EPS 26c, consensus 26c
Reports Q4 revenue $1.26B, consensus $1.27B.
February 25, 2015
09:14 EDTHLSHealthSouth 2015 guidance looks conservative, says SunTrust
Subscribe for More Information
February 24, 2015
16:45 EDTHLSHealthSouth sees 2015 EPS $2.24-$2.29, consensus $2.44
Sees 2015 adjusted EBITDA $670M-$680M.
16:44 EDTHLSHealthSouth reports Q4 EPS with items 41c, consensus 48c
Subscribe for More Information
February 18, 2015
10:28 EDTKNDWells sees little new in WSJ story on acute care hospitals
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use