New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 23, 2014
17:02 EDTGTIV, KNDGentiva Health adopts shareholders rights plan
The Board of Directors of Gentiva Health Services (GTIV) announced that it has adopted a limited duration shareholder rights plan and declared a dividend of one right on each share of the company's common stock outstanding as of close of business on June 3. The Rights Plan was adopted following the company's rejection of the unsolicited, non-binding proposal by Kindred Healthcare (KND) to acquire Gentiva for $14.00 per share in Kindred stock and cash, as it significantly undervalues Gentiva, is inadequate and is not in the best interests of the company or its shareholders. Commenting on behalf of the Board, Rod Windley, Executive Chairman of Gentiva, said: "As significant equity holders, the Gentiva Board is fully aligned with the interests of our fellow shareholders. The Board unanimously adopted this Rights Plan to ensure that it remains in the best position to perform its fiduciary duties and to ensure that the value we are creating accrues to Gentiva and not to someone else looking to opportunistically appropriate that value. We are confident that we can best deliver significant value by continuing to execute our One Gentiva initiative and look forward to sharing more details about our plans and prospects with our shareholders in the coming weeks." In the absence of further action by the Board and subject to certain exceptions, the rights generally will become exercisable and allow holders to acquire the company's common stock at a discounted price if a person or group acquires beneficial ownership of 15% percent or more of the company's common stock in a transaction not approved by the Board. In that situation, rights held by persons or groups that exceed the 15% threshold will be void. The rights will expire on May 20, 2015 unless earlier redeemed, exchanged or terminated by the company.
News For GTIV;KND From The Last 14 Days
Check below for free stories on GTIV;KND the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 29, 2014
08:04 EDTKND, GTIVKindred reiterates commitment to acquisition of Gentiva for $17.25/share cash
Kindred Healthcare (KND) reiterated its commitment to its proposed combination with Gentiva Health Services (GTIV). As previously announced on July 21, Kindred is willing to enter into a negotiated agreement to acquire all of the outstanding shares of Gentiva for $17.25 per share in cash, subject to due diligence. Kindred is also prepared to enter into appropriate confidentiality and standstill agreements in order to facilitate discussions. Kindred believes that the value Gentiva shareholders would receive through a combination with Kindred is superior to what Gentiva could create on a standalone basis or through a transaction with any third party. Kindred said it is willing and able to quickly execute an all-cash transaction with no financing contingency at $17.25 per share. In addition to offering Gentiva shareholders an all-cash consideration, Kindred is willing to work with Gentiva to structure a transaction under which Gentiva shareholders could elect to receive a mix of cash and stock, enabling them to participate in the significant upside potential of the combined company. Kindred noted that it has already received antitrust approval for its proposed combination with Gentiva. Kindred CEO Paul Diaz, said, “We are as committed as ever to reaching agreement on a value-creating combination of Kindred and Gentiva, and we stand ready to quickly execute an all-cash transaction with no financing condition. We are eager to work with Gentiva, and look forward to entering into appropriate confidentiality and standstill agreements so that we can start the due diligence process. We are confident that constructive dialogue between our two companies will allow us to deliver the value inherent in the proposed combination to our respective shareholder groups, as well as our patients and employees.”
July 24, 2014
17:10 EDTKND, GTIVGentiva Health announces entry into nondisclosure agreement
Gentiva Health Services (GTIV) announced that it has entered into a nondisclosure agreement with the recognized owner, operator and investor who, as disclosed previously, delivered on July 17 a proposal to Gentiva’s board to acquire all outstanding shares of Gentiva common stock for $17.25 per share in cash, subject to certain conditions. As previously disclosed, the board also has received a conditional proposal from Kindred Healthcare (KND). The board intends to provide to Kindred a nondisclosure agreement substantially similar in all material respects to the agreement it entered into with the other party. If and when Kindred executes such nondisclosure agreement, the board will provide Kindred with the same level of due diligence that will be made available to the other party. Kindred’s access to due diligence will be further conditioned on the termination of its partial tender offer for 14.9% of Gentiva’s shares. The board will carefully review the two proposals and any other proposals it might receive, including any revised proposals.
15:38 EDTGTIVGabelli lowers stake in Gentiva Health to 4.19% from 5.19%
July 23, 2014
10:25 EDTKND, GTIVGentiva Health not in talks with Kindred Healthcare, says dealReporter
According to contacts, dealReporter said Gentiva Health (GTIV) and Kindred Healthcare (KND) have not had any discussions, contradicting recent rumors.
July 21, 2014
19:12 EDTGTIV, KNDGentiva Health announces receipt of acquisition proposal from Kindred Healthcare
Subscribe for More Information
17:40 EDTGTIV, KNDKindred Healthcare offers to acquire Gentiva Health for $17.25 per share
Subscribe for More Information
17:32 EDTGTIV, KNDKindred Healthcare offers to acquire Gentiva Health for $17.25 per share
Subscribe for More Information
July 18, 2014
16:20 EDTKND, GTIVOn The Fly: Closing Wrap
Subscribe for More Information
12:42 EDTKND, GTIVOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory and have remained there throughout the morning. The averages moved in a narrow range for most of the opening hour of the session but spurted to higher levels during the second hour. Investors appear to be using yesterday’s sell-off as a buying opportunity, despite the ongoing events in Russia and Israel that largely contributed to yesterday’s action. ECONOMIC EVENTS: The first release of the University of Michigan consumer sentiment index for July fell to 81.3 after ending June with an 82.5 reading. The leading economic indicator index rose 0.3% to 102.2, which was a bit below the forecast for an increase of 0.5%. COMPANY NEWS: Class A shares of Google (GOOGL) advanced over 3% after the search giant reported quarterly revenue that beat expectations last night. Following its report, at least three Wall Street research firms raised their price targets on the stock, while noted tech analyst Collin Gillis of BGC Financial upgraded the stock to Buy from Hold... Dow component General Electric (GE) reported second quarter EPS of 39c, matching the consensus forecast, and revenue that just missed the consensus view of analysts. The company also reported that it is targeting the initial public offering of IPO of Synchrony Financial (SYF), its North American Retail Finance business, for July. In the IPO, Synchrony is offering 125M shares of its common stock, which will be listed on the New York Stock Exchange under the symbol “SYF,” and anticipates that the IPO price of the shares will be between $23.00 and $26.00 per share... Another Dow member, IBM (IBM), fell 0.4% after reporting adjusted Q2 earnings per share and revenue that beat expectations. Afterward, Cantor said it thinks the worst is over for the company and reiterated its Buy rating on the shares, though Societe Generale downgraded IBM to Sell from Hold and Credit Suisse said IBM continues to be driven by less revenue growth and kept its Underperform rating and $160 price target on Big Blue's stock. MAJOR MOVERS: Among the notable gainers was Skyworks (SWKS), which gained 14% after reporting third quarter results and fourth quarter guidance above analyst estimates and seeing no less than five analyst firms raise their price targets on its stock. Also higher was Gentiva Health (GTIV), which rose 14% after it announced that its board unanimously determined to reject the partial tender offer from Kindred Healthcare (KND) to acquire 14.9% of the outstanding shares of Gentiva for a price of $16.00 per share in cash and disclosed that it has received a $17.25 per share, all-cash takeover proposal from a "recognized owner, operator and investor in the sector." After the announcement, shares of Kindred fell 2%. Also lower following their earnings reports were RealPage (RP), which fell over 21%, and Advanced Micro Devices (AMD), which dropped nearly 18%. INDEXES: Near midday, the Dow was up 107.05, or 0.63%, to 17,083.86, the Nasdaq was up 57.98, or 1.33%, to 4,421.43, and the S&P 500 was up 17.04, or 0.87%, to 1,975.16.
July 17, 2014
18:31 EDTGTIVOn The Fly: After Hours Movers
Subscribe for More Information
16:43 EDTGTIVGentiva Health up 11.5% after disclosing receipt of $17.25 takeover offer
Subscribe for More Information
16:42 EDTKND, GTIVGentiva says received $17.25 all-cash takeover bid, rejected Kindred $16 offer
Subscribe for More Information
16:36 EDTKND, GTIVGentiva Health rejects prior Kindred Healthcare proposal, receives alternate bid
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