Kindred Healthcare received final regulatory approvals for its $1.3 billion deal to acquire RehabCare Group, according to a joint news release from the companies.
Kindred gets OK for RehabCare purchase
The deal, first announced in February, received clearance from the Federal Trade Commission last month. Boards for Louisville, Ky.-based Kindred and St. Louis-based RehabCare have approved the acquisition, which will create the country's largest post-acute-care company. The transaction is expected to close by June 30, pending stockholder approval and final financing measures, according to the release. Kindred's purchase offer included $26 per share in cash and stock and $400 million in assumed debt. As the deal was announced, Kindred said the company had secured financing commitments and expected to have $1.9 billion in long-term financing.
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