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June 20, 2014 01:00 AM

Kindred prices equity offering that will fund Gentiva buy

Beth Kutscher
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    Kindred Healthcare, raising cash to acquire Gentiva Health Services and pay down debt, priced a public offering of 9 million shares at $23.75 per share.

    The underwriters for the offering also will have a 30-day option to buy an additional 1.35 million shares, which could mean a total of $246 million raised.

    Related Content

    Kindred reaffirms it wants Gentiva, despite new poison pill

    Rebuffed by the management team of Atlanta-based Gentiva, Kindred is taking its proposal to shareholders and this week launched a tender offer at $14.50 per share to build up to a 14.9% stake.

    The offer represents an increase from the original $14 a share bid last month and values Gentiva at $573 million.

    Gentiva said its board is reviewing Kindred's offer and will file a formal recommendation within 10 business days of June 16. In the meantime, it urged shareholders to take no action on the tender offer.

    The home health and hospice company already has a poison pill in place that would prohibit any entity from acquiring more than 15% of the company without approval.

    Follow Beth Kutscher on Twitter: @MHbkutscher

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      • Current News
      • Providers
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      • Transformation
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        • Care Delivery
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      • ESG
      • People
      • Regional News
        • Midwest
        • Northeast
        • South
        • West
      • Digital Edition (Web Version)
    • Opinion
      • Bold Moves
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      • Vital Signs Blog
      • From the Editor
    • Events & Awards
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        • Nominate/Eligibility
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        • 50 Most Influential Clinical Executives
        • Best Places to Work in Healthcare
        • Excellence in Governance
        • Health Care Hall of Fame
        • Healthcare Marketing Impact Awards
        • Top 25 Emerging Leaders
        • Top Innovators
        • Diversity in Healthcare
          • - Luminaries
          • - Top 25 Diversity Leaders
          • - Leaders to Watch
        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
        • Digital Health Transformation Summit
        • ESG: The Implementation Imperative Summit
        • Leadership Symposium
        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
        • Best Places to Work Awards Gala
        • Health Care Hall of Fame Gala
        • Top 25 Diversity Leaders Gala
        • Top 25 Women Leaders Gala
      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
      • Webinars
    • Multimedia
      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Video Series - The Check Up
      • Sponsored Video Series - One on One
    • Data Center
      • Data Center Home
      • Hospital Financials
      • Staffing & Compensation
      • Quality & Safety
      • Mergers & Acquisitions
      • Data Archive
      • Resource Guide: By the Numbers
      • Surveys
      • Data Points
    • Newsletters
    • MORE+
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