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Stock Market & Financial Investment News

News Breaks
June 27, 2014
18:23 EDTAMED, GTIV, KNDKindred Healthcare sends letter to Gentiva Health board
Kindred (KND) CEO Paul Diaz sent the following letter to Gentiva Health (GTIV): "We are writing to you, and the entire board of directors of Gentiva, regarding the reports in the marketplace that Gentiva may be pursuing an acquisition of Amedisys (AMED). We are concerned that, while refusing to discuss Kindred’s highly attractive cash offer, the Gentiva board may be pursuing a course that would disenfranchise its shareholders through a value-destroying and highly levered transaction with Amedisys. We believe it is incumbent on the Gentiva board, in fulfilling its fiduciary duty to its shareholders, to sit down with Kindred immediately and explore our value-enhancing proposal before entering into any agreement that could impair the value of, or preclude, a Kindred-Gentiva combination. As you know, our all-cash offer of $14.50 per share represents a 70% premium to Gentiva’s closing share price on May 14, 2014 (the day prior to Kindred making its proposal public), and would deliver immediate and certain value to Gentiva shareholders. In addition, we have expressed a willingness to offer cash and stock in a structure that would allow Gentiva shareholders to participate further in the synergies and upside potential of the proposed combination (which many Gentiva shareholders have told us they would prefer). We have also indicated that we would be prepared to consider increasing the value of our offer if Gentiva were to commence discussions and demonstrate additional value. Even before the Amedisys reports were brought to our attention, we listened with interest to the remarks of Gentiva’s Chief Financial Officer, Eric Slusser, at the Wells Fargo Healthcare Conference, particularly his statements indicating that a vertically integrated post-acute care provider would be best positioned to deliver effective care in the long run. This is one of the many reasons why we believe the proposed combination of Kindred and Gentiva makes so much sense. A Kindred-Gentiva combination would offer the benefits of vertical integration and position our combined company to provide integrated post-acute care at lower cost to a much broader range of patients. As both Gentiva and Amedisys focus exclusively on home health and hospice care, such a combination would not similarly advance the interests of patients or position Gentiva at the forefront of changes to the U.S. healthcare delivery system. We note that Kindred has an outstanding track record of successfully integrating acquisitions, including most recently RehabCare and Senior Home Care. In contrast to Kindred, both Gentiva and Amedisys have experienced integration challenges in the past. We believe the combination of Kindred and Gentiva would have minimal execution risk and a high likelihood of swift and seamless integration. Kindred remains firmly committed to the proposed combination with Gentiva, but we take our responsibilities to our shareholders very seriously. If Gentiva were to move forward with any other transaction, Kindred would review the outstanding $14.50 cash offer and consider revising or withdrawing it. As we have stated repeatedly over the last six weeks, we would strongly prefer to work with the Gentiva board to reach a negotiated agreement. We have repeatedly requested meetings with you, and are prepared to meet with you and your advisors as soon as is practicable. We once again call upon your board to immediately commence good-faith discussions with Kindred, so that our companies can move forward with a combination that serves the interests of all our stakeholders."
News For KND;GTIV;AMED From The Last 14 Days
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February 11, 2016
07:01 EDTAMEDAmedisys agrees to acquire Associated Home Care for $28M
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February 9, 2016
17:05 EDTKNDKindred acquires Control licenses in South Carolina for home health services
Kindred acquired from the South Carolina Department of Health and Environmental Control licenses to provide home health services in all 46 counties in South Carolina for approximately $18M. Kindred reached an agreement with DHEC following a state bidding process. The agreement took effect January 1, 2016, and immediately expands Kindred's services from 10 offices serving 22 counties to 19 offices serving the entire state of South Carolina. As part of the license transfer agreement, Kindred agreed to hire all employees and agreed to take over patients upon consent. Upon completion, 72 employees accepted the Company's offer of employment and 650 patients granted consent to the Company's care. With this platform, Kindred intends to open additional offices and expand its home health services in the state. The Company has been providing home health services in South Carolina since it acquired Gentiva Health Services in February 2015.
17:02 EDTKNDKindred Healthcare expands its home health operations
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February 8, 2016
10:00 EDTAMEDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Amedisys (AMED) upgraded to Outperform from Perform at Oppenheimer... American Campus (ACC) upgraded to Buy at Canaccord... Beacon Roofing (BECN) upgraded to Strong Buy from Outperform at Raymond James... Big 5 Sporting (BGFV) upgraded on potential Sports Authority closures at Stifel... CenterState Banks (CSFL) upgraded to Outperform from Market Perform at Fig Partners... Cisco (CSCO) upgraded to Neutral from Underperform at Macquarie... Dollar Tree (DLTR) upgraded to Outperform from Market Perform at Telsey Advisory... Dow Chemical (DOW) upgraded to Positive from Neutral at Susquehanna... Essex Property Trust (ESS) upgraded to Buy from Neutral at Mizuho... Globant (GLOB) upgraded to Buy from Neutral at Citi... Kinross Gold (KGC) upgraded on valuation, higher gold price at BMO Capital... L Brands (LB) upgraded to Buy from Hold at Brean Capital... Marvell (MRVL) upgraded to Buy from Sell at B. Riley... Munich Re (MURGY) upgraded to Neutral from Underperform at Credit Suisse... OM Asset Management (OMAM) upgraded to Buy from Neutral at Citi... Orbital ATK (OA) upgraded to Overweight from Sector Weight at KeyBanc... SCANA (SCG) upgraded to Buy from Neutral at Mizuho... Sensient (SXT) upgraded to Buy from Hold at Gabelli... St. Jude Medical (STJ) upgraded to Hold from Sell at Canaccord... Suffolk Bancorp (SCNB) upgraded to Outperform from Market Perform at Fig Partners... Supernus (SUPN) upgraded to Buy from Hold at Jefferies... Ultimate Software (ULTI) upgraded to Outperform from Market Perform at FBR Capital... ZAGG (ZAGG) upgraded to Outperform from Market Perform at Northland... athenahealth (ATHN) upgraded to Buy from Hold at Topeka.
06:19 EDTAMEDAmedisys upgraded to Outperform from Perform at Oppenheimer
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