Kindred Up 6%; Susquehanna Sees 'Cleaner Path' For Gentiva Bid
Gentiva has two offers of $17.25 on the table: one from Kindred and one from an unnamed bidder widely believed to be Formation Capital, an investment management firm that owns Genesis HealthCare.
Genesis agreed Monday to merge with Skilled Healthcare (NYSE: SKH) in a stock swap. Susquehanna analyst Chris Rigg said it's unlikely that Formation Capital can pursue two major and complex deals at the same time.
Rigg said the Genesis deal "creates a cleaner path" for Kindred's bid on Gentiva.
Gentiva fell 2.5 percent Tuesday to 18.35 per share, while Kindred traded up 5.6 percent to $21.31.
Latest Ratings for KND
|Nov 2016||RBC Capital||Downgrades||Outperform||Sector Perform|
|Nov 2016||Stifel Nicolaus||Downgrades||Hold||Sell|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.