Gentiva Health Services Inc said it adopted a poison pill, more than a week after the home healthcare services provider rejected a $533-million hostile bid from hospital operator Kindred Healthcare Inc. Gentiva set a 15 percent trigger for the rights plan, which will expire on May 20, 2015.Gentiva rejected Kindred's $14-per-share offer on May 15, saying it undervalued the company."Poison pills" are designed to stop hostile takeover attempts by triggering the issue of new shares that dilute the holdings of investors who exceed a set threshold.Gentiva's shares closed at $13.68 on the Nasdaq on Friday. They have gained 60 percent since the offer was made public. (Reporting By Vrinda Manocha in Bangalore; Editing by Sriraj Kalluvila)
Gentiva Health Services, Inc. (Gentiva) is engaged in providing home health services and hospice services. Shares of GTIV fell by 0.15% or $-0.02/share to $13.68. In the past year, the shares have traded as low as $7.35 and as high as $14.50. On average, 503673 shares of GTIV exchange hands on a given day and today's volume is recorded at 380834.
Kindred Healthcare, Inc. is a healthcare services company that through its subsidiaries operates transitional care (TC) hospitals, inpatient rehabilitation hospitals (IRFs), nursing and rehabilitation centers, assisted living facilities, a contract rehabilitation services business and a home health and hospice business across the United States. Shares of KND traded higher by 1.03% or $0.25/share to $24.54. In the past year, the shares have traded as low as $12.50 and as high as $26.72. On average, 567957 shares of KND exchange hands on a given day and today's volume is recorded at 259449.
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