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Stock Market & Financial Investment News

News Breaks
July 14, 2014
07:32 EDTKND, GTIVKindred Healthcare increases all-cash tender offer for Gentiva to $16 per share
Kindred Healthcare (KND) announced that it has amended its previously announced all-cash tender offer to acquire all of the outstanding shares of common stock of Gentiva Health Services (GTIV), together with the associated preferred share purchase rights. Under the amended offer, Kindred will seek to purchase 14.9% of Gentiva’s outstanding shares at an increased offer price of $16.00 per share in cash. The amended offer is conditioned upon, among other things, a minimum of 5,489,914 shares being tendered in the offer and not withdrawn and clearance of the proposed transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. In light of the Gentiva board of directors’ implementation of a poison pill the 14.9% ownership stake sought by Kindred also represents the maximum amount of shares outstanding that can be accepted in the amended offer. If the offer is oversubscribed, Kindred will purchase the tendered shares on a pro rata basis. The amended offer will expire at 5:00 pm, New York City time on July 28 unless further extended. Paul J. Diaz, CEO of Kindred, said, “Our enhanced $16.00 per share all-cash offer underscores our confidence in the merits of uniting our two highly complementary companies. We have also indicated our willingness to structure the transaction so that Gentiva shareholders can receive a mix of cash and stock—allowing them to participate in the combined company’s substantial upside—but this would only be possible through a negotiated transaction. While we continue to believe that Kindred could unlock significant value through this transaction, we will not consider further increasing our offer unless the Gentiva board and management team engage with Kindred and demonstrate additional value in the due diligence process.” Citigroup is acting as financial advisor to Kindred. Cleary Gottlieb Steen & Hamilton LLP is acting as legal advisor and Gibson, Dunn & Crutcher LLP is serving as special counsel to Kindred.
News For KND;GTIV 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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January 16, 2015
10:47 EDTKNDBofA/Merrill healthcare facilities analyst analyst/industry conference call
Healthcare Facilities & Managed Care Analyst Bressler discusses the legislative and regulatory outlook for the industry for 2015 on an Analyst/Industry conference call to be held on January 23 at 2 pm.

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