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
Sign up for a free trial to see the rest of the stories you've been missing.
October 16, 2014
17:23 EDTGTIV, KNDKindred Healthcare reports 14.6% stake in Gentiva Health
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