Hospital operator Kindred Healthcare Inc raised its offer for home healthcare services provider Gentiva Health Services Inc to $573 million, a little over three weeks after Gentiva said it adopted a poison pill to counter the hostile bid.Kindred raised its offer by 50 cents per share to $14.50 per share in cash, which represent a premium of 3.65 percent to Gentiva's closing price on Monday.The offer represents a premium of 70 percent to Gentiva's closing price on May 13, the day prior to Kindred making public its offer to acquire Gentiva, Kindred said.With the assumption of Gentiva's debt, the deal will be valued at about $1.7 billion, Kindred said.
Gentiva Health Services, Inc. (Gentiva) is engaged in providing home health services and hospice services. Shares of GTIV traded higher by 0.72% or $0.1/share to $13.99. In the past year, the shares have traded as low as $7.35 and as high as $14.50. On average, 483123 shares of GTIV exchange hands on a given day and today's volume is recorded at 369695.
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 0.94% or $0.24/share to $25.74. In the past year, the shares have traded as low as $12.50 and as high as $26.81. On average, 492306 shares of KND exchange hands on a given day and today's volume is recorded at 230301.
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