Kindred Healthcare Inc pushed on with its hostile bid for Gentiva Health Services Inc, urging shareholders to ignore the home healthcare provider's board and vote for its $1.7 billion offer by July 16.Gentiva rejected Kindred's raised offer of $14.50 per share on Monday, saying it significantly undervalued the company.Kindred is looking to acquire 14.9 percent of Gentiva's shares, making it the largest shareholder, but Gentiva had adopted a "poison pill" with a trigger of 15 percent.Gentiva, which believes it could generate more value as a standalone company, first rejected Kindred's offer in May.
Gentiva Health Services, Inc. (Gentiva) is engaged in providing home health services and hospice services. Shares of GTIV traded higher by 1.49% or $0.225/share to $15.28. In the past year, the shares have traded as low as $7.35 and as high as $16.13. On average, 523270 shares of GTIV exchange hands on a given day and today's volume is recorded at 20657.
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 0.13% or $0.03/share to $23.13. In the past year, the shares have traded as low as $12.50 and as high as $26.81. On average, 674773 shares of KND exchange hands on a given day and today's volume is recorded at 43038.
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