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Stock Market & Financial Investment News

News Breaks
July 9, 2014
08:17 EDTKND, GTIVGentiva Health says Kindred Healthcare offer 'substantially undervalues' company
Rod Windley, Executive Chairman of Gentiva (GTIV), says “Kindred’s (KND) offer grossly undervalues Gentiva and is not in the best interest of Gentiva stockholders.” The company notes, "Kindred’s opportunistic offer substantially undervalues Gentiva . The timing of the offer seeks to exploit a temporary decline in Gentiva’s share price; Kindred’s offer attempts to set a value for Gentiva before the Company’s financials fully reflect the benefits of recent and substantial strategic initiatives and investments; Applying Gentiva’s peers’ average valuation multiple to the mid-point of Gentiva’s recently released 2014 Adjusted EBITDA guidance implies a standalone stock price significantly higher than Kindred’s offer, even before accounting for expected synergies and a control premium; Gentiva’s scale as one of the largest providers of home-based healthcare services in the nation, the diversity of its services, as well as its superior operating margins make it an industry leader; and Industry leaders within the healthcare services sector have historically traded and/or transacted at premium valuations as compared to their respective peer groups. Kindred’s proposal would eliminate the ability of Gentiva’s stockholders to capture the significant value and upside associated with: The continued integration of Harden; The strategic and operational efficiencies of One Gentiva." The Gentiva Board encourages all stockholders to view the presentation, which has also been posted on the Investors section of the company’s website, and urges stockholders not to tender their shares to Kindred.
News For GTIV;KND From The Last 14 Days
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January 27, 2015
17:51 EDTKND, GTIVS&P announces changes to S&P MidCap 400, S&P SmallCap 600 indices
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17:24 EDTGTIV, KNDANI Pharmaceuticals to replace Gentiva Health in S&P 600 as of 2/2 close
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January 26, 2015
17:33 EDTKNDKindred Healthcare apponts Kent H. Wallace as COO
Kindred Healthcare has named Kent H. Wallace Executive VP and COO, effective February 2. Mr. Wallace will be a member of the company’s Executive Committee. Benjamin A. Breier, current COO, will become CEO on March 31, succeeding Paul J. Diaz, who will become Executive Vice Chairman of the Kindred Board of Directors.
January 22, 2015
16:17 EDTGTIV, KNDGentiva Health stockholders approve combination with Kindred Healthcare
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16:06 EDTGTIV, KNDGentiva Health stockholders approve combo with Kindred Healthcare
Gentiva Health Services (GTIV) announced that all proposals necessary for the combination with Kindred Healthcare (KND) were approved by Gentiva’s stockholders at the company’s Special Meeting of Stockholders. Gentiva and Kindred expect to complete the transaction on February 2. As previously announced, on October 9, Kindred and Gentiva entered into a definitive agreement under which Kindred will combine with Gentiva for $14.50 per share in cash and 0.257 shares of Kindred common stock based upon an agreed upon fixed exchange ratio.
January 21, 2015
11:35 EDTKND, GTIVGentiva Health to host special shareholder meeting
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