Gentiva Shareholders Approve Merger With Kindred
Kindred Healthcare, Inc. (NYSE: KND) is nearing the completion of its $1.8 billion merger with Gentiva Health Services, Inc. (NASDAQ: GTIV).
Gentiva recently announced the company’s stockholders have approved all necessary proposals for the merger with Kindred, which is expected to be complete Feb. 2, 2015.
Kindred and Gentiva entered into a definitive agreement Oct. 9, 2014, under which Gentiva shareholders will receive $14.50 per share in cash and $5 of Kindred common stock, which equates to 0.257 shares of KND common stock, the company stated in a release. Kindred will acquire all of the outstanding shares of Gentiva common stock for $19.50 per share in a combination of cash and stock.
The merger will create a national powerhouse in the home health and post-acute care sector, and follows a summer-long bid war and months of subsequent hush-hush up until the definitive agreement was made.
Written by Cassandra Dowell