U.S. hospital operator Kindred Healthcare Inc on Monday raised its offer for home healthcare services provider Gentiva Health Services Inc to $573 million, a little more than three weeks after Gentiva said it adopted a poison pill to counter the hostile bid.Kindred increased its bid by 50 cents per share to $14.50 per share in cash, a 3.65 percent premium 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 before Kindred made public its offer to acquire Gentiva, Kindred said.With the assumption of Gentiva's debt, the deal would 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, 483866 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, 487767 shares of KND exchange hands on a given day and today's volume is recorded at 231301.
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